* MSCI Asia ex-Japan up 0.3 pct, Nikkei flat
* Euro steady around $1.2930, dollar index flat
* Brent crude holds above $115, copper eases 0.5 pct
* U.S. 10-year Treasury yields close to lowest this week
By Alex Richardson
SINGAPORE, Oct 12 (Reuters) - Asian stocks and the euro
steadied on Friday, but were on course for a losing week as
worries about weak corporate earnings and slowing global
economic growth limit the appeal of riskier assets.
Index futures pointed to major European markets giving up
some of the previous session's gains, with Euro STOXX 50 futures
down 0.4 percent and financial bookmakers calling
London's FTSE 100 to open down around 0.3 percent.
A rally that had pushed global equities up around 15 percent
from the lows of early June stalled this week. Investors were
treading carefully with the third quarter reporting season under
way and eyes on how J.P. Morgan fares when it posts its
results later on Friday in the United States.
"With concerns over the state of the global economy coming
to the fore this week, along with negative sentiment surrounding
a Chinese slowdown, and earnings season and the fiscal cliff
garnering negative attention in the U.S., visibility for equity
markets in the short term remains clouded to say the least,"
said Daniel Victory at Capital Spreads in London.
Commodities - with the exception of oil - were also mostly
set to end the week in the red as investors fretted about the
slowdown in key consumer China, which is due to release its
latest trade data at the weekend.
MSCI's broadest index of Asia Pacific shares outside Japan
rose 0.3 percent, but Japan's Nikkei
fell 0.2 percent to its lowest close in more than two months.
The MSCI Asia ex-Japan index is down 1 percent on the week,
while the Nikkei has shed more than 3.5 percent.
Wall Street stocks ended flat on Thursday, after gains made
on data showing the number of Americans filing new claims for
jobless benefits fell to the lowest in more than four-and-a-half
years were erased in part by a drop in Apple shares
after a U.S. court overturned a sales ban on Samsung
Electronic's smartphones in their patent battle.
S&P 500 index futures traded in Asia were up 0.3
percent, suggesting modest gains when U.S. trading resumes.
The International Monetary Fund (IMF), which is holding its
semi-annual meeting in Tokyo, underlined concerns about the
health of the world economy this week when it cut its global
growth forecast for the second time since April.
Those fears have reduced investors' enthusiasm for riskier
assets and lifted the safe-haven dollar and government debt. The
dollar was flat against a basket of major currencies on
Friday, leaving it on course for a 0.6 percent gain on the week.
The yield on 10-year U.S. Treasuries was steady around 1.679
percent, close to its lowest level this week.
The euro steadied after IMF Managing Director Christine
Lagarde said she favoured giving debt-burdened Greece and Spain
more time to reduce their budget deficits because cutting too
far and too fast would do more harm than good.
Lagarde's comments were seen supporting stability in the
euro zone, where Spain is widely expected to become the first of
the "big four" economies to seek an international bailout.
"Everyone is still waiting on Spain to request aid and for
the ECB to eventually start buying bonds," said Gareth Berry,
G10 FX strategist for UBS in Singapore. "Until that really
happens it's hard to see (currencies) break decisively out of
The euro edged up to near $1.2935 on Friday after
three days of declines that have left it down around 0.8 percent
on the week.
Copper had bounced off two-week lows on Thursday and iron
ore prices rose to an 11-week high, moves that boosted mining
stocks in Asia on Friday.
But the rally was shortlived, with copper falling
around 0.5 percent on Friday to around $8,200 a tonne, on course
for a loss of more than 1 percent on the week. Gold was
flat near $1,770 an ounce.
Tensions between Turkey and Syria continued to support oil,
with Brent crude holding above $115 a barrel, set for
its biggest weekly gain in two months, while U.S. crude
firmed above $92.
"Crude is responding positively to the U.S. economic data
and ongoing tensions in the Middle East are adding to supply
concerns," said Tim Waterer, a senior trader at CMC Global
Markets in Sydney.