Debt-stricken Greece Thursday took steps to avoid a default, but euro-zone finance ministers withheld approval for a second bailout, saying the Greek parliament must approve new austerity policies and a package of economic overhauls before the euro zone can back a €130 billion ($172.6 billion) loan deal for the government.
Japan's Nikkei Stock Average fell 0.1%, Australia's S&P/ASX 200 lost 0.3%, South Korea's Kospi Composite dropped 0.3% while New Zealand's NZX-50 added 0.6%.
Dow Jones Industrial Average futures were down 13 points in screen trade.
On top of the Greece uncertainty, markets continue to deal with the earnings season, which has largely undershot expectations as many companies struggled amid a slowing global economy.
In Sydney, the market was weighed by earnings disappointments. A day after BHP Billiton posted underwhelming earnings, rival Rio Tinto reported a 59% slump in earnings for the 2011 financial year, hit by an impairment charge mainly against the value of its struggling aluminum business. Rio shares fell 2.2%, while BHP lost 1.9%.
Bucking the market, Newcrest rose 2.8% on a stronger-than-expected first-half profit and dividend.
The Tokyo market struggled despite a weaker yen as many investors took to the sidelines ahead of the weekend, and amid a largely weak batch of earnings recently.
Exporters were mixed, with many in the red. Toyota Motor fell 1.1% on profit-taking after it rose sharply on the auto maker's bullish earnings outlook Tuesday. Honda Motor, which posted weak earnings, fell 1.1%, while Canon advanced 0.3%.
In Seoul, shares were lower after a four-session rally; Hana Financial dropped 2.7% after signaling a tough business outlook for this year following mixed fourth quarter earnings results.
The euro was steady against the U.S. dollar as traders waited for a conclusive agreement for Greece to secure its second bailout. The single currency surged to a two-month high of $1.3322 Thursday on signs of progress in resolving Greece's debt problems.
The single currency was at $1.3284, from $1.3285 late Thursday in New York, and ¥103.07, from ¥103.18. The dollar was fetching ¥77.59, from ¥77.66.
Spot gold was at $1,731.80 per troy ounce, up $2.70 from its New York settlement on Thursday. March crude oil futures were down 26 cents at $99.58 per barrel on Globex.
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