TOKYO, Aug 12 (Reuters) - Japanese government bond prices inched down on Tuesday as Tokyo stocks extended gains amid an easing of immediate geopolitical concerns.
Caution ahead of a 30-year JGB auction later in the session kept the bond market in tight range.
Market participants saw demand from the usual buyers of superlong JGBs such as 30-years dented by low yields, with traditional investors in long tenors, notably life insurers and pension funds, showing interest in higher-yielding foreign bonds.
The benchmark 10-year JGB yield rose half a basis point to 0.515 percent. The yield fell to a 16-month low of 0.500 percent last week when geopolitical tensions increased demand for safe havens such as government bonds.
September 10-year futures stood unchanged at 146.08.
Tokyo’s Nikkei rose 0.4 percent after surging 2.4 percent the previous day. (Reporting by Shinichi Saoshiro; Editing by Eric Meijer)