Japan stocks may move little, oil prices eyed

TOKYO (Reuters) - Japan's Nikkei stock average is likely to move narrowly on Monday after a market holiday in the United States, but energy-related shares such as trading house Mitsubishi Corp may gain on high oil prices.

U.S. markets were closed for the Independence Day holiday on Friday, while the benchmark Nikkei finished Friday down 0.2 percent, falling for a 12th day and marking its longest losing run since a 15-day period in 1954.

"Trade is likely to be thin and the market will probably hover around the lower side on uncertainty about the U.S. market tonight and as oil prices are still high," said Kazuhiro Takahashi, general manager of the equity marketing department at Daiwa Securities SMBC.

"The G8 summit is likely to have little impact on the market this week unless they come up with a concrete strategy against oil prices," he said.

Leaders of the world's richest nations gather in Hokkaido, northern Japan, for the annual summit of the Group of Eight (G8) industrialized nations on July 7-9.

Takahashi expects the Nikkei average will trade between 13,000 and 13,350 after ending at 13,237.89 on Friday. It fell 2.3 percent last week and has given up 8.4 percent during its 12-day losing streak.

(Reporting by Aiko Hayashi; Editing by Chris Gallagher)