JGBs dip in quiet trade as equities soar

TOKYO: Japanese government bond prices dipped as soaring equities dented the allure of safe-haven debt, amid subdued trading as investors tip-toed into the first trading day of 2018.

The 10-year JGB yield was 1 basis point higher at 0.055 percent.

The 30-year JGB yield rose 0.5 basis point to 0.810 percent.

JGB losses were limited as the Bank of Japan conducted a regular debt-purchasing operation, through which it bought 960 billion yen ($8.52 billion) of one- to 10-year bonds.

The debt market showed little reaction to BOJ Governor Haruhiko Kuroda, who vowed on Thursday that the central bank will maintain its ultra-easy monetary policy to beat deflation.

Japanese stocks rallied on the first trading day of 2018, with the Topix probing its highest levels since 1991 as securities and oil shares gained.