* Asia ex-Japan shares head for third-straight weekly drop

* European shares also set for lower open

* Yen recovers slightly but remains weak vs dollar

* Crude oil futures slip but on track for weekly gains

By Lisa Twaronite and Nichola Saminather

TOKYO/SINGAPORE, May 13 (Reuters) - Asian shares fell on Friday after a rocky performance on Wall Street, while the yen hovered near two-week lows as traders wagered the Bank of Japan will add to its massive stimulus before too long.

European shares are also heading toward a lacklustre start, with financial spreadbetters expecting Britain's FTSE 100 to open as much as 0.2 percent lower, Germany's DAX about 0.3 percent weaker, and France's CAC 40 to start the day little changed.

Major U.S. stock indexes closed mixed on Thursday, with the Nasdaq Composite down 0.49 percent as Apple shares skidded to a two-year low on concerns about iPhone demand.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1 percent, and was on track for a weekly drop of 1.2 percent, its third straight week of declines.

Hong Kong shares slipped 1.2 percent, poised for a 2.2 percent drop for the week.

Chinese shares started the day in positive territory but quickly retreated, with the CSI 300 down 0.3 percent and the Shanghai Composite losing 0.3 percent. They are on track to end the week lower, the former by 1.6 percent and the latter by 2.9 percent, after being hit earlier in the week by fears that Beijing may begin to taper its stimulus plans due to concerns about excessive debt.

Investors are looking to April Chinese bank lending data later in the day, and industrial output, investment and retail sales data on Saturday to give them more clues on whether the economy's prolonged slump is bottoming out.

Japan's Nikkei, which spiked briefly at the open, closed down 1.4 percent, as underperformance by Apple suppliers and the yen's recovery following Thursday's retreat snapped a five-day winning streak. The benchmark is up 1.9 percent for the week.

"Although investors remain cautious, they think Japanese stocks will eventually catch up with the strength in overseas stocks such as U.S. shares," said Isao Kubo, equity strategist at Nissay Asset Management.

Shares of Nissan Motor Co rose 4.1 percent, while Mitsubishi Motors Corp slipped 1.7 percent on Friday, after Nissan agreed to buy a 34 percent stake in its smaller, scandal-hit rival on Thursday.

The yen rose 0.2 percent against the dollar on Friday to 108.79 after tumbling to a two-week low of 109.40 overnight, but remained well away from an 18-month high of 105.55 plumbed on May 3.