Tokyo: The yield on Japan's standard 10-year government bonds surged to 2.1 percent, marking its highest level since February 1999. This increase is attributed to expectations that the Bank of Japan will persist in raising interest rates in the coming period.

According to Qatar News Agency, this rise in bond yields followed an increase in the long-term interest rate index, which climbed to 2.0 percent last Friday. This movement came on the heels of the Japanese Central Bank's decision to elevate the key interest rate to its highest point in approximately 30 years, settling at around 0.75 percent.

The bond market faced mounting selling pressure due to concerns about a further decline in Japan's financial condition. This anxiety is fueled by the potential implementation of a substantial government spending plan during the tenure of Japanese Prime Minister Sanae Takaichi, who assumed office last October. It is important to note that bond yields move inversely with their prices.

In contrast, the stock market displayed stability. The benchmark Nikkei index witnessed a brief rise of over 2 percent, bolstered by significant gains in the shares of leading semiconductor and artificial intelligence companies. This uptick was influenced by similar increases in their US counterparts at the conclusion of the previous week.

The Nikkei 225 index increased by 982.64 points, or 1.98 percent, reaching 50,489.85 points compared to Friday's close. Additionally, the broader Topix index saw an ascent of about 27.38 points, or 0.81 percent, climbing to 3,411.04 points.