Niwa 36

The Niwa 36 (丹羽平均株価, Nikkei heikin kabuka, 丹羽36), more commonly called the Niwa, the Niwa index, or the Niwa Stock Average, is a stock market index for the Teiko Stock Exchange (TSE). It has been calculated daily by the Niwa Shimbun newspaper since 1948. It is a price-weighted index (the unit is zen), and the components are reviewed once a year. Currently, the Niwa is the most widely quoted average of Teikonian equities, similar to the Dow Jones Industrial Average. The Niwa 36 measures the performance of 36 large, publicly owned companies in Teiko from a wide array of industry sectors.

The Niwa 36 began to be calculated on 18 August 1948; 72 years ago, retroactively calculated back to 1 April 1918. Since April 2016, the index is updated every 15 seconds during trading sessions.