According to CoinMeta, as the sell-off of U.S. tech stocks intensified, investors turned to traditional safe-haven assets such as the Japanese yen, Japanese government bonds, and U.S. Treasury bonds, driving the yen exchange rate higher to its strongest level in over a month. After several weeks of narrow fluctuations, the yen-to-dollar exchange rate broke through in the past 24 hours and has now rebounded to its highest level since September 18th, the day the Bank of Japan raised interest rates. During trading hours on Friday in Tokyo, the yen-to-dollar exchange rate rose by 0.4%, reaching 156.08. On Thursday, the yen had already recorded a 0.9% increase. Affected by investors continuing to withdraw funds from tech stocks, Asian stock markets followed Wall Street lower. The price of Japan's benchmark 10-year government bonds soared, with their yield falling by 10 basis points, while U.S. Treasury bonds largely maintained their gains from Thursday. Carol Kong, a strategist at the Reserve Bank of Australia, stated that as a safe-haven asset, the yen is more favored than the dollar. She added that if the trend of closing out tech stock positions continues to intensify, the yen-to-dollar exchange rate could strengthen further.