Many investors were sidelined awaiting the outcome of the 20-year JGB auction while firmer equity prices also kept market participants at bay.

There was some buying back in the early morning, but the market remains top-heavy, as market players are waiting for the results of auction of 10-year bonds this afternoon.

A rally in equities weighed on sentiment, while there was some caution ahead of the 30-year debt auction today.

The January figures were seasonal and temporary.

Share prices were weaker as many investors are keenly awaiting the machinery orders (figures).

Because the market was so hot, investors were buying everything. It was like a frenzy with prices going up so fast.