Chinese stock-index futures dropped after MSCI Inc. held off from adding mainland stocks to its benchmark indexes. Asian bonds tracked a selloff in the U.S. and Europe, while oil rose a second day.

SGX FTSE China A50 Index futures expiring this month fell 1.2 percent at 10:07 a.m. Tokyo time. Yields on Japanese government notes due in a decade climbed four basis points to 0.49 percent, as rates on similar maturity Australian and New Zealand debt rose at least six basis points. The MSCI Asia Pacific Index added 0.1 percent, with Japan’s Topix index rebounding from a three-week low. U.S. index futures climbed 0.1 percent. Oil in New York rose 0.8 percent.

MSCI said China still needs to improve market accessibility and address concerns about the ownership status of mainland shares before they’re eligible for global equity gauges. Bets the Federal Reserve is edging closer to raising U.S. interest rates this year fueled Treasury losses Tuesday, while signs of a pickup in euro-area growth sent most European bonds lower. Oil industry data pointed to a sixth week of declines in American crude inventories.

Yields on Australian 10-year bonds jumped 10 basis points, or 0.10 percentage point, to 3.06 percent, while New Zealand rates climbed six basis points to 3.92 percent for their seventh increase eight days.

Source : Bloomberg