TOKYO, May 14 (Reuters) - Long-dated Japanese government bond (JGB) prices firmed on Tuesday as a 30-year debt auction drew steady demand and losses in Tokyo shares boosted the safe-haven appeal of debt.
Japan’s Nikkei ended down 0.6% at its lowest in more than six weeks after China defied Washington by announcing retaliatory trade tariffs, hurting investor appetite for risk.
The benchmark 10-year JGB yield shed half-a-basis point to minus 0.055%.
Long-dated maturities fared well after Tuesday’s 30-year JGB auction attracted ample demand.
The bid-to-cover ratio, a gauge of demand, at the 700 billion yen ($6.39 billion) 30-year sale was relatively high at 4.65, compared with 4.55 at the previous auction last month.
The 20-year yield shed 1 basis point to 0.360%.
The 30-year and 40-year yields each fell half-a-basis point to 0.535% and 0.560%, respectively.
$1 = 109.6100 yen Reporting by Tokyo Markets team, Editing by Sherry Jacob-Phillips