(Corrects to prices from yields in paragraph 1)
TOKYO, May 14 (Reuters) - Longer-dated Japanese government bond prices edged higher on Thursday, with a 30-year debt auction drawing solid demand.
The Ministry of Finance reopened 700 billion yen 30-year JGBs on Thursday with a 0.4 percent coupon. The bid-to-cover ratio at 3.69, a higher result from 3.53 at the previous auction in April.
In another sign of strong demand, the auction’s tail, or the gap between the lowest and accepted prices, tightened to 0.09 from the previous 0.39.
As a result, the 30-year JGB yield fell 0.5 basis point to 0.455%.
The 40-year JGB yield fell 0.5 basis point to 0.465%, while the 20-year JGB yield stood flat at 0.330%.
Benchmark 10-year JGB futures rose 0.04 point to 152.28, with a trading volume of 9,337 lots.
In the cash bond market, the 10-year JGB yield fell 0.5 basis point to minus 0.010%.
In the short end of the market, the two-year JGB yield and the five-year yield were unchanged at minus 0.170% and minus 0.120%, respectively.
On Wednesday, U.S. Treasury yields were steady after Federal Reserve Chair Jerome Powell said that the U.S. could face an extended period of weak economic growth. (Reporting by Eimi Yamamitsu; Editing by Anil D’Silva)