SINGAPORE — Shares in Japan were set to open lower Thursday following overnight declines on Wall Street as bond yields rose again.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 29,325 while its counterpart in Osaka was at 29,380. That compared against the Nikkei 225’s last close at 29,559.10.

Shares in Australia declined in morning trade as the S&P/ASX 200 fell about 0.8%.

Australia’s retail sales and trade data for January are expected to be out at around 8:30 a.m. HK/SIN.

Investors will keep an eye on tech shares in Asia after their counterparts stateside fell overnight amid a rise in bond yields.

The tech-heavy Nasdaq Composite dropped 2.7% to close at 12,997.75, with shares of Apple, Amazon, Microsoft and Alphabet all dropping more than 2% each.

Other major indexes on Wall Street also declined on Wednesday: The S&P 500 fell 1.31% to 3,819.72 while the Dow Jones Industrial Average declined 121.43 points to 31,270.09.

The moves came as the 10-year U.S. Treasury yield rose again, last sitting at 1.4842%. The benchmark rate surged to a high of 1.6% last week, in a move that some described as a “flash” spike — sparking concerns of stock valuations and a potential pickup in inflation.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.98 — lower than levels above 91 seen earlier this week.

The Japanese yen traded at 107.09 per dollar, still weaker than levels below 106.8 against the greenback seen earlier in the week. The Australian dollar changed hands at $0.7756, weaker than levels above $0.792 seen last week.

In oil developments, OPEC and its non-OPEC partners — an energy alliance sometimes referred to as OPEC+ — are expected to convene via videoconference on Thursday to discuss how to manage supply to the market.

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— CNBC’s Sam Meredith and Yun Li contributed to this report.