Asian stocks declined Thursday as rising bond yields and higher oil prices weighed on markets, following a retreat on Wall Street from recent record highs.

US stock futures were mixed in early trading.

Asian markets came under renewed pressure from higher bond yields. The yield on the 10-year US Treasury remained close to a multi-decade high after minutes from the US Federal Reserve's latest meeting, released Wednesday, showed that most policymakers expect another interest rate increase this year.

Japan's Nikkei 225 fell 0.9% to 69,438.77, while South Korea's Kospi dropped 0.8% to 6,750.25. Hong Kong's Hang Seng declined 0.2% to 24,072.98, and the Shanghai Composite edged down 0.1% to 3,840.03.

Australia's S&P/ASX 200 lost 0.6% to 8,677.20, while Taiwan's Taiex fell 0.7%.

On Wall Street, the S&P 500 declined 0.2% Wednesday, a day after reaching a record high. The Dow Jones Industrial Average fell 0.7%, while the technology-focused Nasdaq composite slipped 0.2% from its record.

US inflation remains above the Fed's 2% target. In September, the central bank raised its key interest rate by 0.25 percentage point for the first time in three years, bringing the target range to 3.75%-4%.

Higher bond yields can weigh on stocks as they increase borrowing costs for businesses and consumers. US Treasury yields have climbed amid a global energy shock linked to the Iran war, while growing US government debt has also added pressure.

The 10-year Treasury yield stood around 5.31% Thursday after reaching 5.36% Wednesday, its highest level since 2002.

Oil prices also rose amid uncertainty over global supplies. The US and Iran have yet to reach an agreement to end their war.

The Atlantic reported Wednesday, citing two unnamed officials, that the White House had asked the Pentagon to prepare strike options against Iran before the November midterm elections.

Brent crude, the international benchmark, rose 2.2% to $102.43 a barrel early Thursday. US benchmark crude gained 1.9% to $89.96.

The International Energy Agency said Wednesday that its members support accelerating releases of oil from strategic inventories.

The US dollar rose to 158.20 Japanese yen from 158.08 yen. The euro edged up to $1.1198 from $1.1197 as higher French bond yields and concerns over the country's government debt put pressure on the currency.