Japan’s stock market rewarded retail investors for most of the year, setting fresh records and swelling their portfolios.

That’s given some the confidence to remain in the market even after the crash of the last three days.

The Nikkei 225 share average fell 12.4% on Monday, the biggest percentage fall since Black Monday in 1987, in which a one-day plunge shaved 23% off the Dow Jones Industrial Average.