Tokyo stocks mixed as banks bought, tech sold on yield’s rise

Tokyo stocks were mixed Monday morning, as a rise in long-term government bond yields to a nearly 10-year high prompted buying of bank shares but put downward pressure on semiconductor heavyweights.

The yield on the benchmark 10-year government bond hit 0.700 percent, a level unseen since January 2014, after Bank of Japan Governor Kazuo Ueda hinted at the possibility of ending the central bank’s negative interest rate policy in a newspaper interview Saturday.

The 225-issue Nikkei Stock Average fell 62.80 points, or 0.19 percent, from Friday to 32,544.04. The broader Topix index was up 2.43 poi...