A/O 23:35 PST, Dow futures screen trade shows a 15 point gain.
Japan's Nikkei stock average closed above 10,000 on Friday for the first time in five weeks and rose 10.4 percent on the week, its biggest weekly gain in over a year, with exporters such as Canon Inc rising. But Takefuji Corp fell 9.4 percent on news it had slashed lending to save cash after credit rating downgrades made it difficult for the Japanese consumer lender to raise funds. The benchmark Nikkei .N225 edged up 0.4 percent on the day but gained nearly 1,000 points on the week in active trade, snapping a five-week losing streak thanks to a wave of short-covering supported by foreign investors. The broader Topix inched up 0.2 percent to 889.58.
Hong Kong stocks fell on Friday, ending four straight gaining sessions of gains with banks and property issues leading the slide, while China stocks edged up with bank shares strong. Hong Kong stocks fell 1.39 percent on Friday after soft U.S. data raised concerns over the pace of economic recovery, with the blue-chip Hang Seng Index .HSI falling 313.01 points to 22,240.86 at midday. The index was up 5.2 percent so far this week, heading for the biggest single-week of gain in percentage term in two months. China's key stock index edged up 0.08 percent on Friday, with bank shares strong after Spanish bank BBVA raised its stake in China CITIC Bank while the index headed for a solid weekly gain on signs of a solid economic recovery and steady policy. The Shanghai composite Index .SSEC ended the morning at 3,267.288 points, heading for a 5.52 percent weekly gain, which would be its best one-week rise in a month after last week's 6.41 percent loss spurred by worries over official warnings about possible asset bubbles.
T. W. Merryman
Managing Director
Interconti, Limited
(Market Research Analysts)
Chicago, IL 60604
e: intercon@intercontilimited.com
w: www.intercontilimited.com 
