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TOKYO (Jiji Press) — Japan’s benchmark 10-year government bond yield rose to 0.605% at point in Tokyo trading Monday, its highest level in about nine years.
The rise came after the Bank of Japan set an effective ceiling of 1.0% on the yield on Friday.
Japanese stocks rose on higher U.S. shares on Friday, sending the key 225-issue Nikkei average climbing over 600 points at one point.
The gains in Japanese stocks also reflected a rise in the dollar against the yen following the central bank’s decision.
The Nikkei average rose 503.51 points, or 1.54%, to end the morning session at 33,262.74, a three-week high. The dollar was at ¥141.55-55 at 11 a.m. in Tokyo, up from ¥139.72-74 at 5 p.m. Friday.
