Wires

JGBs rise as weak German data stokes slowdown concerns

TOKYO, Sept 24 (Reuters) - Japanese government bond (JGB) prices rose on Tuesday as poor business activity readings from the euro zone sparked fears of a recession and suggested more stimulus was required, boosting demand for safe-haven debt.

Benchmark 10-year JGB futures rose 0.3 point to 155.03, with a trading volume of 22,055 lots.

The key 10-year cash JGB yield fell 2.5 basis points to minus 0.245%.

In the super-long zone, the 20-year yield fell 0.5 basis point to 0.180%, while the 30-year yield fell 1 basis point to 0.340% and the 40-year yield stood flat at 0.395%.

"As the U.S. and European bond yields slid last week, JGBs have become increasingly attractive to both domestic and foreign investors. I expect investors will buy back JGBs this week," said Takenobu Nakashima, senior rates strategist at Nomura Securities.

German private sector activity shrank for the first time in 6-1/2 years in September as a manufacturing recession deepened unexpectedly and growth in the service sector lost momentum, a survey showed on Monday. (Reporting by Tokyo Markets Team; Editing by Aditya Soni )