TOKYO, April 23 (Reuters) - Long-dated Japanese government bond prices gained on Tuesday as investors stepped up purchases ahead of the long Golden Week holiday and a lacklustre session in Tokyo stocks lifted the appeal of debt.
Shorter maturities dipped following relatively soft two-year bond auction results.
The 20-year JGB yield JP20YTN=JBTC and the 30-year yield JP30YTN=JBTC fell 1 basis point each to 0.380 percent and 0.570 percent, respectively.
The 40-year yield JP40YTN=JBTC dropped half-a-basis point to 0.610 percent.
The benchmark 10-year yield JP10YTN=JBTC lost 0.5 basis point to minus 0.035 percent.
The two-year yield JP2YTN=JBTC ticked up half-a-basis point to minus 0.150 percent.
Tuesday's 2 trillion yen ($17.89 billion) two-year JGB auction attracted modest demand, including from some foreign buyers.
The bid-to-cover ratio, a gauge of demand, still slipped to 5.04 from an average of 5.328 in the previous five auctions.
The Nikkei share average dipped slightly in early afternoon trade as profit-taking took hold. .T
Starting on Saturday, on Japan will have an unprecedented 10-day holiday from late April to early May to mark the ascension of the new emperor, Crown Prince Naruhito.
($1 = 111.81 yen)
(Reporting by Tokyo Markets team, Editing by Sherry Jacob-Phillips)
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