Nikkei 225 in 1991
The Nikkei 225 fell 3.6% in 1991, from 23,849 at the end of 1990 to 22,984. Its highest close was 27,147 on Mar 18, and its lowest 21,457 on Aug 19. The biggest one-day fall was −5.9% on Aug 19 and the biggest rise +4.8% on Dec 13.
Nikkei 225, daily closes 1991
Numbers mark the events belowKey Events in 1991
What happened, and how the Nikkei 225 moved — on the day (or the next trading day) and about a month later.
- 1
Thursday, January 17US-led coalition begins Operation Desert Storm air campaign against Iraq. SourceNikkei 225: +4.5% that day · +12.9% a month later
- 2
Thursday, February 28Operation Desert Storm ends after the 100-hour ground campaign. SourceNikkei 225: +1.2% that day · +0.8% a month later
- 3
Monday, July 1Bank of Japan cuts the official discount rate to 5.50%, beginning an easing cycle. SourceNikkei 225: +3.5% that day · +0.7% a month later
- 4
Monday, August 19Hardliners launch a coup attempt against Soviet leader Mikhail Gorbachev; it collapses within days. SourceNikkei 225: −5.9% that day · +2.8% a month later
- 5
Monday, August 19 From the dataEnters a bear market: 20% below its peak of 27,147 (March 18, 1991).
- 6
Friday, December 13 From the dataBiggest one-day rise of the year: +4.8%.
- 7
Thursday, December 26The Soviet Union is formally dissolved. SourceNikkei 225: +0.4% that day · −4.0% a month later
Biggest days of 1991
| Best days | Worst days | ||
|---|---|---|---|
| Dec 13 | +4.8% | Aug 19 | −5.9% |
| Jan 17 | +4.5% | Jan 8 | −3.5% |
| Dec 25 | +3.7% | Jan 16 | −3.3% |
| Jul 1 | +3.5% | Jul 8 | −3.2% |
| Feb 18 | +3.5% | Dec 2 | −3.1% |
Volatility: 21.2% (annualised standard deviation of daily changes).
Month by month
| Month | Close | Change |
|---|---|---|
| Jan | 23,293 | −2.3% |
| Feb | 26,409 | +13.4% |
| Mar | 26,292 | −0.4% |
| Apr | 26,111 | −0.7% |
| May | 25,790 | −1.2% |
| Jun | 23,291 | −9.7% |
| Jul | 24,121 | +3.6% |
| Aug | 22,336 | −7.4% |
| Sep | 23,916 | +7.1% |
| Oct | 25,222 | +5.5% |
| Nov | 22,687 | −10.1% |
| Dec | 22,984 | +1.3% |
Other Markets in 1991
Change over the calendar year.
| Market | Change | Year-end |
|---|---|---|
| Nikkei 225 | −3.6% | 22,984 |
| Dow Jones Industrial Average in 1991 | +20.3% | 3,168.83 |
| S&P 500 in 1991 | +26.3% | 417.09 |
| Nasdaq Composite in 1991 | +56.9% | 586.34 |
| Russell 2000 in 1991 | +43.7% | 189.94 |
| Gold in 1991 | −8.6% | $353.15 |
| Silver in 1991 | −7.9% | $3.86 |
| WTI crude oil in 1991 | −32.8% | $19.15 |
| Brent crude oil in 1991 | −37.4% | $17.75 |
| US 10-year Treasury yield in 1991 | −1.37 pp | 6.71% |
Nikkei 225 in 1991: FAQ
How much did the Nikkei 225 fall in 1991?
The Nikkei 225 fell 3.6% in 1991, from 23,849 at the end of 1990 to 22,984. Its highest close was 27,147 on Mar 18, and its lowest 21,457 on Aug 19. The biggest one-day fall was −5.9% on Aug 19 and the biggest rise +4.8% on Dec 13.
What were the highest and lowest closes of the Nikkei 225 in 1991?
Highest: 27,147 on March 18, 1991. Lowest: 21,457 on August 19, 1991. It closed higher on 112 of 246 trading days.
What happened to the Nikkei 225 on August 19, 1991?
Hardliners launch a coup attempt against Soviet leader Mikhail Gorbachev; it collapses within days. The Nikkei 225 fell 5.9% that day, and was +2.8% a month later.
Data: Daily closes since Jan 1984 (Tokyo). Price index: dividends are not included. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026nikkei225in1991, author = {{Corgano}}, title = {Nikkei 225 in 1991}, howpublished = {\url{https://goldprice.corgano.com/market-history/nikkei-225/1991}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}