0850 GMT - Rising Japanese stock prices could continue to weigh on the yen in the near term, Commerzbank's Volkmar Baur says in a note. A Japan Exchange Group survey shows about 35% of Japanese stocks are now held by foreign investors and these stocks are largely held in currency-hedged positions, he says. As stocks rise, investors adjust their currency hedges to increase their protection against a weaker yen. "While this is likely not the main reason, it could also contribute to the yen coming under pressure again in the coming weeks until the Bank of Japan clarifies its plans more clearly." The dollar trades steady at 159.28 yen after reaching an 11-day high of 159.37 earlier.
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