Japan's 10-year government bond yield breaches ceiling again

Japan's 10-year government bond yield has again topped the Bank of Japan's new ceiling before the start of the central bank's two-day policy meeting on Tuesday.

The move comes amid upward pressure in the financial market with prospects that the bank will further tweak its massive monetary easing policy following an adjustment last month.

The yield rose 1 basis point to 0.51 percent on Monday, marking two consecutive trading days of hitting the upper limit of 0.5 percent that the bank set on December 20.

The BOJ is conducting additional bond purchases as it announced last week in order to curb a rise in long-term yields.