Dainokai (Year-End Trading Session)
Industry DaysWhat Is Dainokai?
December 30 is "Dainokai," the final trading session of the year on Japan's stock exchanges. If the 30th falls on a Saturday or Sunday, the preceding business day serves as Dainokai. Its counterpart, the first session of the new year, is called Daihakkai.
It Used to Fall on December 28, Like the Government's Last Working Day
Dainokai was once held on December 28, the same day government offices closed for the year. It was later moved as the securities industry, facing weak business, looked to add trading days.
- Meaning: the year's last trading session at the stock exchange
- Counterpart: Daihakkai, the first session of the new year
- Schedule change: Dainokai moved from December 28 to the 30th, and Daihakkai from January 6 to the 4th
- Trading hours: once a half day ending at noon; since 2009 a full day like any other
- Weekends: if December 30 is a Saturday or Sunday, the previous business day is used
Why the Half Day Ended in 2009
On December 30, 2009, trading hours on Dainokai were extended from mornings only to the usual 3 p.m. close. The stated reasons were to stimulate trading in Japanese equities and to reduce system load by eliminating an exceptional day.
Tips for Marking This Day
- Check the year's final closing price in the news
- Compare where the market ended against where it started the year
- If you trade, confirm settlement dates and orders that cross the year
- Look up when Daihakkai falls and note it in your calendar
The Market Has a Last Day of Work Too
Just as companies have a final working day, the stock market has its own close to the year. The Dainokai closing price is reported again and again in year-end news because it sums up the year's economy in a single number. December 30 is a day to look back on the market.