As the Nikkei 225 rebounded for the first time in 5 sessions, 16 stocks were selected from the Prime Market that were considered to have room for upside based on a bullish alignment of all three Ichimoku signals and PBR, a share-price indicator based on net assets.
Reports that expectations for an early interest-rate hike had receded emerged in the US stock market on the 3rd, and the Nikkei 225 rose in the Tokyo market. Buying in AI- and semiconductor-related stocks lifted the Nikkei 225 to a close of ¥65,020, up ¥806 from the previous day.
For this feature, 16 companies in the Prime Market considered to have room for upside were selected by combining the bullish alignment of all three Ichimoku signals, a buy signal among the Ichimoku Cloud technical indicators, with PBR, which indicates a company's theoretical liquidation value based on shareholders' equity. The selection process screened the 26 stocks showing the bullish three-signal alignment for those with PBRs below the market average of 1.74x.