Due to the sustained strong economic growth and the support of the appreciation of the yen, the Japanese stock market broke through 10000 at the beginning of 1984, and walked out of a five-year bull market. Even though it was hit by the global stock market crash 1987+00, 19, the rising pace of Japanese stock market was not hindered. By February 29th, 1989, 15, the Nikkei average index had reached an all-time high of 389 15, which was nearly three times that at the beginning of the bull market. The total market value of the stock market rose to 6 1 1 trillion yen, equivalent to 1.48 times of GDP. At that time, the whole island of Japan was addicted to unprecedented prosperity and madness, and people even firmly believed that the myth of Yamato, where the stock price only rose and the land price only rose, would never be broken. 1990 65438+ 10. On 3 October, when the Nihon Keizai Shimbun predicted the stock markets of 20 famous entrepreneurs, everyone was optimistic that the share price of 1990 would continue to soar to 42,000-48,000 points. However, on April 2nd, 1990, the Nikkei average index plunged to 28,002.07 points, which was 28.05% lower than the closing peak of 1989, 1990 and 10, and then fell to 202,265,438. The decline of stocks also caused panic in the domestic bond market. The funds for selling stocks and bonds quickly flowed overseas, and there was a triple depreciation of stocks, bonds and yen in the Japanese financial market. /kloc-in the autumn of 0/990, real estate began to plummet. The collapse of stock price and house price has seriously reduced the price of financial assets held by residents. The bad asset effect of personal financial assets plummeting led to the contraction of consumer credit and the sharp decline of household consumption, so Japan's economy fell into a depression period of "lost decade". In the 20 years since the Nikkei1989 65438+hit a record high of 389 15 on February 29th, 2008, the Nikkei hit 20,000 points three times, but each time it ended in a decline. On February 28th, 2008, the Nikkei index fell to 6994, setting a new record of 65438. The stock market bubble in the late 1980s caused heavy losses to the Japanese stock market, which has not recovered yet.