Wall Street shares fell as much as 1.5 percent on Friday, reversing early gains made on data showing the U.S. economy grew at its fastest pace in more than six years in the fourth quarter.
A fall in technology bellwethers such as Apple Inc and Microsoft Corp dragged the market down, as did investor concern about the financial stability of Greece, Portugal and Spain.
The strong U.S. growth data helped British and European markets close higher as did some bargain hunting after heavy losses in previous sessions.
The U.S. dollar gained on the growth data, with the euro falling to a 6-1/2-month as investors took the view the U.S. is recovering from the recession at a faster pace than Europe.
Japan's Nikkei average is seen opening higher, helped by the yen falling against the greenback, with Nikkei futures trading in Chicago 75 points higher than the Osaka close.
Australian shares are seen weaker, after base metal prices fell, with share index futures last trading at 4499, a 70.6 point discount to the underlying index close on Friday.
HEADLINES: > China: US arms sales to Taiwan hurt its security > Obama to propose $3.8 trillion 2011 budget -paper > Wall St falls on euro-zone worry, tech slide > Banks, regulators agree need for global response > US agrees to recall fix, Toyota chief apologizes > US bank bailout encourages risky behavior-watchdog > U.S. Q4 economic growth fastest in six years > FDIC clocks 15 bank failures so far in 2010 > EU to tell Greece to do more to cut deficit-paper > IMF working on plans for 'green fund' - IMF chief > Oil falls 1 pct on weak demand, down 8 pct in Jan > NATO troops clash with Afghan allies
KEY INDEXES pct change
Bank of New York Asia ADR index -1.56
Dow Jones Industrial Average -0.52
Nasdaq Composite Index -1.45
MSCI Asia Pacific ex-Japan -1.62
Nikkei futures in Chicago 10,235
Nikkei futures in Osaka 10,160
TOP ASIA EVENTS:
For more Asian company earnings, see
JAPAN - Japan Airlines news conference
- Daihatsu Motor Co Q3 results
- Ajinomoto Q3 results
AUSTRALIA - House prices indexes December
- TD-MI inflation gauge
STH KOREA - 2010 service sector outlook
- January import/export data
- January consumer price index
TAIWAN - Mediatek Q4 earnings conference
(Reporting by Adrian Bathgate; Editing by Balazs Koranyi)
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