Asia stocks closed mixed on Friday ahead of a long holiday weekend as investors remained cautious on the future of

Lehman Brothers

(LEH)

.

There are several reports that Lehman and U.S. officials were discussing a number of alternatives, including a sale of the firm. The talks, which involve

Treasury

and

Federal Reserve

officials, could lead to a deal being reached over the weekend, according to reports.

The Nikkei 225 Stock Average in Japan rebounded from Thursday to gain 112.26 points, or 0.93%, to 12,214.76. The Hang Seng index in Hong Kong closed lower, down 0.2%.

Stocks in Europe were higher. The FTSE 100 index in London rose 75.70 points, or 1.4%, to 5,394.10, while the DAX in Germany tacked on a little more than 1% to 6,243.74.

Stock market futures in the U.S. were mixed with little movement to either the upside or downside.

This article was written by a staff member of TheStreet.com.