TOKYO, April 1 (Reuters) - Japanese government bond prices gained on Wednesday after the Bank of Japan's bond buying plan released the day before showed the central bank is likely to increase its scheduled purchase in the market this month.
The market was also supported by risk aversion as stock prices tumbled on the first day of the new Japanese financial year on persistent worries about the coronavirus pandemic.
The BOJ said on Tuesday it would increase the frequency of its buying in JGBs with one to 10 years to maturity.
Based on the mid point of the target range of its bond purchase for each maturity, the BOJ's scheduled buying is likely to increase nearly 1 trillion yen.
Benchmark 10-year JGB futures rose 0.15 point to 152.72, though trading volume was low, failing to reach 10,000 lots.
The 10-year JGB yield fell 0.5 basis point to 0.005%, while the 20-year yield fell 2 basis points to 0.290%.
The 30-year JGB yield fell 1 basis point to 0.410%, while the 40-year yield lost 0.5 basis point to 0.425%.
At the shorter end of the market, the two-year JGB yield fell 1 basis point to minus 0.140%, while the five-year yield fell 1 basis point to minus 0.125%. (Reporting by Tokyo Markets Team; Editing by Subhranshu Sahu)