TOKYO (AP) — Global stocks drifted lower on Wednesday as investors awaited the release of minutes to Federal Reserve's last policy meeting. Some Asian indexes closed higher on the back of positive U.S. economic figures the day before, but Europe traded lower and Wall Street was expected edge down on the open.

KEEPING SCORE: Germany's DAX lost 0.4 percent to 9,293.09 and France's CAC 40 slipped 0.3 percent to 4,239.80. Britain's FTSE 100 fell 0.4 percent to 6,749.90. U.S. shares were poised for declines with Dow and S&P 500 futures dipping almost 0.1 percent.

ASIA'S DAY: Hong Kong's Hang Seng closed up 0.2 percent while Japan's Nikkei 225 ended little changed. Australia's S&P/ASX 200 added 0.2 percent while Southeast Asian markets advanced. Taiwan's Taiex rose 0.5 percent while Seoul's Kospi added nearly 0.1 percent.

US OUTLOOK: Signs that inflation is in control in the U.S., as well as fairly positive earnings reports and other indicators of a healthy economy, helped Asian shares. But that upbeat sentiment turned cautious as traders prepared for more clues on when the Fed might start raising interest rates. If the economy does better than expected, the Fed might act earlier than expected. The minutes "will be reviewed for discussion on how recent developments in inflation and employment conditions have influenced Committee members' views on the timing of the rate lift-off," said Michael Carey, analyst at Credit Agricole CIB.

RATE INCREASES: Many analysts predict the Fed will start raising interest rates sometime in 2015. Besides the release of minutes Wednesday, eyes will also be on a speech later in the week by Fed Chair Janet Yellen. Talk about interest rates has also grown in Britain, where minutes to the Bank of England's last meeting showed two out of nine board members had voted for a rate hike this month. The news weighed on British stocks and the pound, but many analysts estimate the Bank of England's board is not likely to reach a majority vote for a rate increase before early next year.

CURRENCIES. The dollar has surged recently to 103 yen levels, and was trading at 103.33 yen, up from 102.95 yen late Tuesday. The euro fell to $1.3283 from $1.3322, while the pound rose to $1.6651 from $1.6617.

ENERGY: Benchmark U.S. crude for September delivery was up $1.22 at $95.70 a barrel in electronic trading on the New York Mercantile Exchange. It dropped sharply Tuesday and was down nearly 4 percent for August due to ample supplies. The September contract expires Wednesday. The more actively traded October contract was up 29 cents at $93.15 a barrel.

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