Japan's Nikkei rises to record high before BOJ decision, JGB yield climb

By Kevin Buckland

TOKYO, Oct 30 (Reuters) - Japan's Nikkei share average rose to a record high on Thursday, shaking off early weakness, as investors awaited the Bank of Japan's latest policy decision.

Japanese government bond (JGB) yields climbed, mirroring moves in U.S. Treasuries. The yen JPY= strengthened slightly to 152.56 per U.S. dollar, stabilizing after a 0.3% drop in the previous session.

The tech-heavy Nikkei .N225 added as much as 0.4% to reach 51,513.66 for the first time, before last trading at 51,417.50.

The broader Topix .TOPX gained 0.4% to 3,290.03.

The BOJ is widely seen leaving policy unchanged later in the day, with traders focused on any signs that an interest rate hike might be coming at the next meeting in December or the following one in January.

The policy announcement doesn't have a set time, but generally comes between 0330 GMT and 0500 GMT.

The two-year JGB yield JP2YTN=JBTC rose 1 basis point to 0.95%, matching the level reached on October 1, which was the highest since June 2008.

Other cash JGB tenors had yet to trade.

Benchmark 10-year JGB futures 2JGBv1 declined 0.22 yen to 135.91 yen. Yields rise when bond prices fall.