Japanese government bonds gained during late Asian session Monday as investors have shrugged-off the better-than-expected trade surplus for the month of April, leading to rise in bond prices. The healthy sign in trade balance data suggests that the economy is on track for a recovery, although the rate of growth may remain dim.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, remained tad lower at 0.05 percent, the yield on the long-term 30-year note also slid slightly to 0.76 percent and the yield on short-term 2-year remained nearly 1 basis point lower at -0.13 percent by 04:55GMT.
Japan's exports accelerated in April on increased shipments of cars and machines used to make semiconductors, suggesting healthy overseas demand could help the economy recover quickly from a dip in the first quarter, Reuters reported.
Japan's exports accelerated in April on increased shipments of cars and machines used to make semiconductors, suggesting healthy overseas demand could help the economy recover quickly from a dip in the first quarter.
Meanwhile, the Nikkei 225 index traded 0.44percent higher at 23,032.00 by 05:05 GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained highly bearish at -184.86 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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