TOKYO: Japanese government bond prices edged higher on Monday, with the benchmark yield within close range of a record low, supported by regular purchases by the Bank of Japan and as risk aversion hit Tokyo shares.

March 10-year JGB futures rose 0.07 point to 147.86 on the first trading day of the year.

The benchmark 10-year JGB yield stood unchanged at 0.320 percent, within touching distance of a record low 0.300 percent reached late in December.

The 20-year yield declined half a basis point to 1.045 percent.

The BOJ bought a total of 450 billion yen ($3.74 billion) of government debt on Monday in a regular bond buying scheme, a part of its massive quantitative easing programme.

The unprecedented easing programme drove JGB yields lower across the curve in 2014 and participants expect it to remain a key market factor in 2015 as the central bank continues to face the task of shoring up a shaky economy and stave off deflation.

Tokyo's Nikkei shed 0.6 percent, weighed by investor risk aversion amid Greek political uncertainty and weaker Wall Street shares.

Copyright Reuters, 2014