Raikkonen edged championship points leader Fernando Alonso by 0.003 seconds, with seven-time world driving champion Michael Schumacher of Ferrari posting the third fastest time.
Williams BMW's Mark Webber was fourth with Jenson Button of BAR Honda fifth.
A second qualifying session is scheduled for Sunday morning, with the cumulative time used to determine the starting grid. Alonso leads the overall drivers' standings with 26 points. Jarno Trulli of Toyota is second with Giancarlo Fisichella of Renault third.
Some information for this report provided by AP and Reuters.