Investors, however, bought
back bonds in late trading in accordance with the downturn in Tokyo share prices, brokers said.
The price of the March futures contract fell into minus territory at some points during the day, but investors bought
back bonds whenever the price moved down, brokers said.
Brokers said the improvements in these figures were smaller than expected and the disappointing showing had prompted investors to buy
back bonds.
Investors bought
back bonds in the afternoon, leading the price of the March futures contract to as high as 131.
Many investors had sold bonds ahead of Monday's announcement of the Bank of Japan's quarterly Tankan business confidence survey, which is expected to show an improvement, and such investors bought
back bonds to cover their short positions, but trading was thin, a broker at Yamatane Securities Co.
A decline in Tokyo share prices was another factor prompting investors to buy
back bonds, a broker at Kankaku Securities Co.
However, ''investors realized that they had reacted to the report too keenly, and bought
back bonds shortly,'' a broker at Yamatane Securities Co.
Prices of 10-year government bond futures rose slightly Tuesday, as investors bought
back bonds on dips after bond prices had dropped sharply during the day.
Prices of 10-year government bond futures turned upward Thursday morning, as investors bought
back bonds on dips following a sharp decline in bond prices Wednesday.
Prices of 10-year government bond futures turned upward Thursday as investors bought
back bonds on dips following the sharp decline in bond prices over the previous two days.
