Japan Pre-Market Morning Briefing: Yen Stability Drives Banking and Export Value Stocks

### 1. Global Macro Environment and Tokyo Open Direction: U.S. equities closed mixed overnight while the 10-year Treasury yield hovered at 5.17%, maintaining a persistent high-interest-rate regime. The USD/JPY exchange rate stabilized near 152.4 yen, supporting export margins for Japanese industrials. Screening data prior to the Tokyo opening reveals a clear common denominator across market flows. Upward breakout leaders concentrate in banking and transportation machinery, driven by currency-hedged export margins and solid order books. ### 2. Core Outperforming Quant Candidates: - **Suruga Bank (8345.T)**: Trading at ¥2,901, up 16.6% over the past month with expanding volume. Upper resistance stands at ¥2,929 and lower support at ¥2,871. - **Naikai Zosen (7018.T)**: Trading at ¥13,220, consolidating within a range with stable volume. Resistance is noted at ¥14,180 and support at ¥12,910. ### 3. Downside Risk and Restricted Equities: - **Habu (3133.T)**: Trading at ¥49, down 29.0% over the past month in a continuous downtrend. Strict stop-loss disciplines are required near the ¥42 support level. ### 4. Portfolio Management Principles: Maintain selective exposure to high-margin export and banking names while strictly avoiding low-liquidity laggards.