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Nikkei dips 0.1%, exporters slip on econ worries

Mon Jul 7, 2008 8:23am IST
 
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* Nikkei on track for 13-day losing streak.

* Streak would be longest since 1954

* Exporters fall on worries about global economic slowdown

* Eyes on oil prices, U.S. markets

(Adds stocks, details)

By Aiko Hayashi

TOKYO, July 7 (Reuters) - The Nikkei stock average dipped 0.1 percent on Monday, on course to mark its longest losing streak in more than half a century as exporters such as Sony Corp (6758.T: Quote, Profile, Research) slid on worries about a global economic slowdown.

Daikin Industries Ltd (6367.T: Quote, Profile, Research) dropped 3.4 percent to become the biggest drag on the benchmark Nikkei after Goldman Sachs cut its price target, citing a surprisingly weak outlook for the air conditioner maker's first quarter, hurt by slumping demand in Europe.

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

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