Japan's Nikkei stock index .N225
ended up 0.9 percent at a fresh 15-year peak, helped by a weaker yen
and data showing the economy grew at a 2.4 percent annualized rate in
the January-March period. That was its fastest pace in a year, beating
the consensus estimate for 1.5 percent growth.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS, however, was down 0.3 percent. European
shares were mixed following Tuesday's 1.65 percent surge, unable to
draw much of a boost from the euro's weakness against the backdrop of
increasing uncertainty over Greece.
The FTSEurofirst 300 index of leading shares was flat at 1606 points .FTEU3, while Germany's DAX .GDAXI, France's CAC 40 .FCHI and Britain's FTSE 100 .FTSE were all down around 0.2 percent.
U.S. futures pointed to a flat open on Wall Street SPc1, following its mixed performance on Tuesday. The Dow Jones industrial average .DJI eked out a slight gain to close at a fresh record high, while the S&P 500 .SPX edged down, although not before touching a record intraday high.
Data showed that U.S. housing starts in April jumped to their highest level in nearly 7-1/2 years and building permits soared, raising hopes that the economy was regaining strength after stalling in the first quarter but also rekindling fears the Fed would raise interest rates sooner rather than later.
"We believe the minutes may describe a conversation regarding the criteria for a rate hike – specifically, a discussion of the developments required to make Fed officials 'reasonably confident' that inflation will accelerate to 2 percent over the next two-to-three years," Credit Suisse analysts said in a note on Wednesday.
The consensus among economists and traders points to the Fed raising rates in September.
Crude oil futures were off session highs but still took back some lost ground after sinking more than 3 percent overnight as the dollar strengthened.
Brent LCOc1 jumped 1.6 percent to $65.05 a barrel while U.S. crude CLc1 rose about 1.5 percent to $58.85, after both shed more than $2 a barrel on Tuesday.
The FTSEurofirst 300 index of leading shares was flat at 1606 points .FTEU3, while Germany's DAX .GDAXI, France's CAC 40 .FCHI and Britain's FTSE 100 .FTSE were all down around 0.2 percent.
U.S. futures pointed to a flat open on Wall Street SPc1, following its mixed performance on Tuesday. The Dow Jones industrial average .DJI eked out a slight gain to close at a fresh record high, while the S&P 500 .SPX edged down, although not before touching a record intraday high.
Data showed that U.S. housing starts in April jumped to their highest level in nearly 7-1/2 years and building permits soared, raising hopes that the economy was regaining strength after stalling in the first quarter but also rekindling fears the Fed would raise interest rates sooner rather than later.
"We believe the minutes may describe a conversation regarding the criteria for a rate hike – specifically, a discussion of the developments required to make Fed officials 'reasonably confident' that inflation will accelerate to 2 percent over the next two-to-three years," Credit Suisse analysts said in a note on Wednesday.
The consensus among economists and traders points to the Fed raising rates in September.
Crude oil futures were off session highs but still took back some lost ground after sinking more than 3 percent overnight as the dollar strengthened.
Brent LCOc1 jumped 1.6 percent to $65.05 a barrel while U.S. crude CLc1 rose about 1.5 percent to $58.85, after both shed more than $2 a barrel on Tuesday.
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