Japanese bonds attracted the largest foreign inflow in eight weeks in the ​week through ⁠May 30 as yields eased from multi-decade highs ‌on hopes for a resolution to the Middle East conflict.

Foreigners bought ​a combined 1.74 trillion yen ($10.88 billion) of bonds in their largest ​weekly net purchase ​since 1.99 trillion yen of additions in the week to April 4, data from the Ministry ⁠of Finance showed on Thursday.

They bought short-term bills of 494.7 billion yen and long-term bonds of 1.25 trillion yen for a second successive weekly net purchase.

Last week, ​the 10-year ‌JGB yield ⁠eased 15 basis ⁠points from a 29-year high of 2.8% reached the prior ​week. The 10-year yield last stood at ‌2.645%.

The U.S. and Iran reached ⁠an agreement to extend a ceasefire last week, pending final approvals. The Trump administration on Wednesday said Israel and Lebanon agreed to implement a ceasefire to end hostilities, bolstering hopes for a broader deal to end the U.S.-Israeli war on Iran.

Meanwhile, in Japanese equity markets, foreigners sold a net 491.2 billion yen of ‌stocks, ending an eight-week run of net buying.

In ⁠parallel, Japanese investors divested a net ​1.07 trillion yen of foreign equities, logging a second successive weekly sale.

They also shed 184.8 billion yen of foreign ​long-term bonds, posting ‌their first weekly net withdrawal in ⁠five weeks.

($1 = 159.9300 yen)

(Reporting ​by Gaurav Dogra; Editing by Harikrishnan Nair)