TOKYO, June 10 (Reuters) - Japan's super-long government

bond prices rose on Tuesday, after Reuters reported that the

government is considering buying back some super-long-dated

bonds in a move to contain rising yields.

The 20-year JGB yield fell 2 basis points

(bps) to 2.340% and the 30-year JGB yield fell 3

bps to 2.88%.

Bond prices move in the opposite direction to yields.

Japan is considering buying back some super-long government

bonds issued in the past at low interest rates, two sources with

direct knowledge of the plan told Reuters.

"Although the finance ministry's bond issuance plans are

still not clear, the report about bond buybacks is positive,"

said Naoya Hasegawa, chief bond strategist at Okasan Securities.

"It signals the ministry's willingness to improve demand for

bonds with super-long maturities," Hasegawa said.

The latest report came as the market awaited details of the

ministry's bond sale plans after Reuters reported last month

that the ministry is considering a cut in the sale of super-long

bonds.

The Ministry of Finance, which oversees the government's

debt issuance, will reach a final decision on the buybacks after

holding meetings with bond market participants on June 20 and

June 23, the sources told Reuters.

Yields on the longest-dated bonds hit record highs last

month, reflecting weak demand from life insurers, major

investors in super-long bonds, which have already completed

their asset-liability duration matching to comply with the

Financial Services Agency's regulations.

On Tuesday, yields on shorter-dated bonds edged up, amid

worries that the possible cuts in the longer dated bonds would

bring an increase in issuance of shorter-dated bonds.

The two-year JGB yield rose 0.5 bp to 0.775%

and the five-year yield rose 0.5 bp to 1.035%.

The 10-year JGB yield fell 0.5 bp to 1.465%