Japan's bond yields hit multi-month lows as tech selloff drives safe-haven demand

Japanese government bonds rallied on Friday, pushing yields to multi-month lows as investors sought safe-haven assets amid a deepening global technology stock selloff, Reuters reported. The benchmark 10-year JGB yield fell 9 basis points to 1.795%, its lowest since June 30. The two-year yield dropped 6 basis points to 1.795%, its lowest since September 1, while the five-year yield declined 8 basis points to 2.11%, its weakest since August 20. The moves came as Japan's Nikkei share average slumped 5.5%, with tech heavyweights Advantest and SoftBank Group each tumbling around 12%. The simultaneous decline in equities and bond yields underscored a broader shift towards defensive investments, driven by concerns over the sustainability of the artificial intelligence-driven technology boom and growing market uncertainty.