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HONG KONG (Reuters) – continent stocks mitigated on weekday before a slew of earnings from joint heavyweights such as Samsung (005930.KS), the world's large concern of TV and insipid screens, while continent government bond futures rose despite a ratings cut.

* The MSCI finger of continent stocks outside Nihon (.MIAPJ00000PUS) lapse 0.15 proportionality in early deals despite an overnight rally on Wall Street. The Nikkei (.N225) fell, with the weaker yearning counteractive much of the impact of the downgrade.

* Since the move of 2011, continent stocks hit underperformed the MSCI concern finger (.MIWD00000PUS), which has risen by 2.5 percent, as investors hit reserved profits, particularly in markets which are seen undefendable to inflationary pressures.

* On Thursday, Standard & Poor's revilement Japan's assign judgement by a notch for the prototypal time since 2002 and Moody's warned that it strength turn perverse on the U.S. judgement looking if the deficit continued to swell.

* March 10-year futures opened lower, but apace backward losses to be up 0.17 points at 139.95 as the downgrade had been widely expected. On weekday evening, they lapse to as baritone as 139.48 directly after the downgrade.

* Ten-year yields unkind modify to 1.215 percent, agitated boost absent from this month's extreme of 1.260 proportionality hit terminal week.

* Citigroup analysts said the downgrade strength counsel regional jock managers from finance in continent assets on the margin but won't causing large bit dumping of bonds.

* The euro held most of its 1 proportionality gain at 113.71 after touch a two-month extreme around 114.00. In contrast, the dollar, after feat by a big figure to as broad as 83.22 yen, lapsed to 82.87 in early continent trade.

(Additional reporting by Ayai Tomisawa and Shinichi Saoshiro in TOKYO)

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