TOKYO investors will be eyeing Japanese and US economic data next week, but trading is expected to be thin with many dealers off for a national holiday.
US economic figures including retail sales and industrial output are due out as markets look for clues as to when the US Federal Reserve will start rolling back its huge stimulus drive.
The Fed has said any pull back from its quantitative easing scheme rested on evidence of a solid recovery in the world's largest economy.
"If it is confirmed that the US economy is keeping in good shape, that would support the (Tokyo) market," Nomura Securities said in a client note.
Eurozone GDP figures will also be in focus while, closer to home, second-quarter economic growth figures for Japan will be eyed as Tokyo mulls a series of sales tax hikes aimed at chopping its mounting public debt, already the worst in the industrialised world.
There are fears that a drive to stimulate the world's third-largest economy could be cut short by raising taxes.
In the week to August 9, Tokyo's benchmark Nikkei 225 index lost 5.88 per cent, or 850.97 points, to 13,615.19.
The Topix index of all first-section shares lost 4.62 per cent, or 55.26 points, to 1,140.91.
The tumble was largely due to a 4.0 per cent drop in the Nikkei on Wednesday as selling pressure soared because of a stronger yen and after Wall Street fell sharply.
On Friday, Tokyo stocks ended flat after zigzagging in and out of positive territory, with market heavyweight Nikon diving after a big drop in the camera giant's quarterly profit.
"The market remains in the summer doldrums," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
Next week, many traders will be off for national holidays.
"The markets could see some renewed buffeting if trading volume drops off even more than we have seen in recent weeks," said an equity derivatives trader at a foreign brokerage.
On Friday, Nikon dropped 14.29 per cent to Y1,726 after saying on Thursday its net profit fell 72 per cent in the April-June quarter as digital camera sales slumped, while slashing its sales and profit outlook for the fiscal year to March.
Toyota rose 0.16 per cent to Y6,170, Sony gained 0.83 per cent to Y1,943 while Sharp was down 0.74 per cent to Y401.
In Tokyo afternoon trading, the US dollar was nearly flat at Y96.66 from Y96.64 in New York on Thursday.
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