TOKYO: Japanese government bond yields slid on Friday as investors scurried to the safety of debt in light of the escalating Russia-Ukraine conflict.

The 10-year JGB yield fell 1.5 basis points to 0.150%, as of 0500 GMT, after a fire broke out at the site of Europe's largest nuclear power plant during intense fighting between Russian and Ukrainian forces.

"There are still a lot of uncertainties about what's actually happening on the ground, but the market is positioning for the worst case scenario," said Shinsuke Kajita, chief strategist at Resona Holdings in Tokyo.

"The first reaction is to sell stocks and buy bonds."

The 20-year yield fell 1 basis point to 0.625%, and the 30-year yield fell 1.5 basis points to 0.840% after earlier touching 0.835% for the first time since Feb. 9.

The shorter end was less affected, with the five-year yield flat at 0%, while the two-year JGB had yet to trade, and last yielded minus 0.040%.

Benchmark 10-year JGB futures rose 0.08 point to 150.89, with a trading volume of 28,092 lots.