TOKYO, Sept 24 (IFR) - Japanese government bond prices were mostly higher on Wednesday, taking their cue from a fall in yields on German Bunds and U.S. Treasuries.
As widely expected, the Bank of Japan offered to buy 400 billion yen ($3.68 billion US dollars) of JGBs in the 5-year to 10-year zone, 200 billion yen in the 3-year to 5-year zone, and 300 billion yen in the 1-year to 3-year zone under its massive JGB purchase program.
The yield on the current 5-year JGB was unchanged from the previous session at 0.165 percent, while the 10-year yield fell 1 basis point to 0.525 percent, compared with 0.5325 percent for the simple mean of this quarter's range of 0.485 to 0.580 percent.
In the super-long zone, the yield on 20-year JGBs was down 1 basis point at 1.375 percent.
Lead 10-year December JGB futures added 0.15 point to 145.87 after finishing the morning session at 145.83.
U.S. benchmark and long-dated Treasury yields fell on Tuesday to their lowest since Sept. 11 after weak European economic data raised concerns about global growth and U.S. strikes in Syria spurred safe-haven bids.
European data showed a contraction in French business activity and slower growth in German manufacturing this month. Analysts said concerns over slowing global economic growth pushed European bond yields lower and drove demand for higher-yielding U.S. Treasuries.
(1 US dollar = 108.5500 Japanese yen) (Reporting by Masatsugu Hisatsune; Editing by Eric Meijer)