UPDATE 1-Japan’s 10-year yield hits over 9-year high

Japan's 10-year government bond yield hit a more than nine-year high on Tuesday, crossing a level that had prompted the Bank of Japan (BOJ) to intervene in the market earlier this month. The increasing yield could have prompted the BOJ to conduct emergency buying but the central bank did not announce any such move by 0530 GMT, as market players said the pace of the rise in yield was steady. The BOJ's absence from the market in the current session raised speculation about under which circumstances the BOJ would conduct emergency operations to contain yields, a move that could affect the yen and the Japanese stock market.