TOKYO - Benchmark Japanese bonds rose on Thursday as ‍investor concerns about ‍the strength of market appetite for government debt ebbed after auctions for ​medium- and longer-term securities.

The 10-year Japanese government bond (JGB) yield fell 4.5 basis points (bps) to 2.075%. Bond yields move ⁠inversely to prices.

Following moderately firm demand at a 10-year bond sale on Tuesday, the first auction ⁠of the ‌year, the Ministry of Finance sold about 700 billion yen ($4.47 billion) in 30-year JGBs.

The auction's bid-to-cover ratio, a measure of demand, was 3.14, down ⁠from the six-year high seen at the sale in December, though on par with recent sales.

Separately, government data showed that foreign investors bought about 273.5 billion yen worth of Japanese bonds in the week through January 3, their first weekly net purchase ⁠since December 13.

Short-term yields have faced ​upward pressure as the Bank of Japan raised its key policy rate in December and signalled more hikes were ‍on the way. But trade friction with China and data on Thursday showing a sharp decline in real ​wages have added to the case for the central bank to hold off on tightening.

"JGB yields might meanwhile decline from the short end through the long-term sector if markets downwardly reprice the pace of BOJ rate hikes," Mizuho Securities senior market economist Yusuke Matsuo wrote in a note.

The yield on the two-year JGB, the one most sensitive to BOJ policy, fell 4 bps to 1.125%. The five-year yield slid 5 bps to 1.530%.

Long-term JGB yields have risen sharply since early November, reaching successive record highs, on concerns over the scale ⁠of Prime Minister Sanae Takaichi's spending plans.

In a bid ‌to address worries in the market, the government decided to curtail issuance of super-long-term debt next fiscal year to the lowest in 17 years.

The 30-year JGB yield fell half ‌a bp ⁠to 3.495% after reaching a record 3.52% on Wednesday. The 40-year JGB yield touched 3.79%, a record ⁠high.

($1 = 156.7700 yen)

(Reporting by Rocky Swift; Editing by Sherry Jacob-Phillips)