(Updates prices and adds details) TOKYO, Nov 1 (Reuters) - The yield on 10-year Japanese government bonds fell on Monday as worries over new debt sales to fund economic stimulus were eased after a ruling Liberal Democratic Party won a strong majority in a general election. The 10-year JGB yield fell 0.5 basis point to 0.090%, after rising to 0.105% earlier in the day. The yields initially rose to track domestic equities, which surged to a one-month high on relief new Japanese Prime Minister Fumio Kishida’s ruling Liberal Democratic Party defied expectations and held its strong majority in the parliamentary election. There had been worries that the government may sell new bonds to fund a large-scale economic stimulus, as Kishida’s party may fail to win a majority and try to lure support by implementing the economic stimulus. The yields changed its direction after an outcome of a 10-year bond auction made debt look cheaper relative to the U.S. peers, one market participant said. “Investors wanted to buy the 10-year bonds on the dip,” he said. Yields on longer-term bonds were flat, with the 20-year JGB yield at 0.470% and the 30-year JGB yield at 0.670%. The 40-year JGB yield was flat at 0.705%. Benchmark 10-year JGB futures rose 0.16 point to 151.48, with a trading volume of 30,715 lots. (Reporting by Tokyo markets team; Editing by Rashmi Aich and Sherry Jacob-Phillips)