TOKYO (dpa-AFX) - Ahead of Monday's holiday for Sports Day, the Japan stock market had tracked lower in three straight sessions, slumping more than 1,650 points or 2.3 percent in that span. The Nikkei now sits just above the 69,030-point plateau and it may stop the bleeding on Tuesday.
The global forecast for the Asian markets is murky ahead of key inflation data and hampered by rising crude oil prices. The European markets were up and the U.S. bourses were mostly lower and the Asian markets are likely to split the difference.
The Nikkei finished barely lower on Friday as losses among the technology, financial and automobile sectors were offset by support from the utilities and energy companies.
For the day, the index dipped 11.18 points or 0.02 percent to finish at 69,030.92 after trading between 68,150.02 and 69,143.45.
The lead from Wall Street is weak as the major averages opened mixed on Monday end remained on oppositive sides of the line throughout the day, ending little changed.
The Dow climbed 195.60 points or 0.38 percent to finish at 51,850.55, while the NASDAQ dropped 120.27 points or 0.44 percent to close at 27,245.90 and the S&P 500 dipped 4.30 points or 0.06 percent to end at 7,807.24.
The choppy trading on Wall Street came as traders were reluctant to make significant moves ahead of the release of key inflation data on Wednesday.
That data may have a significant impact on the outlook for interest rates ahead of the Federal Reserve's next monetary policy meeting later this month, with current forecasts suggesting no change.
Earnings news is also likely to attract attention, as financial giants Citigroup (C), JPMorgan Chase (JPM), Wells Fargo (WFC) and Bank of America (BAC) are among the companies due to report their quarterly results this week.
Crude oil prices moved sharply higher day on Monday in the wake of fresh attacks on Saudi Arabia's aviation infrastructure by Iran-backed Houthi militants. West Texas Intermediate crude for November delivery jumped $2.42 or 2.6 percent to $94.27 a barrel.
Closer to home, Japan will release September data for bank lending and producer prices. Lending is expected to rise 5.5 percent on year, up from 5.4 percent in August. Producer prices are seen higher by 0.5 percent on month and 7.6 percent on year after slipping 0.2 percent on month and climbing 7.6 percent on year in August.
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