Nikkei down 0.4%, exporters slip on econ worries

(Updates to midmorning)

TOKYO, July 7 (Reuters) - The Nikkei stock average dipped 0.4 percent on Monday, on course to mark a 13th straight day of losses as exporters such as Honda Motor (7267.T: Quote, Profile, Research) slid on worries about a global economic slowdown.

U.S. markets were closed for the Independence Day holiday on Friday, while the benchmark Nikkei .N225 finished Friday down 0.2 percent, falling for a 12th day and marking its longest losing streak since a 15-day period in 1954.

Takahiko Murai, general manager of equities at Nozomi Securities, said it is difficult for the Japanese market to snap the losing run unless the U.S. market recovers, but that depends on whether oil prices come down.

"The Japanese economy is vulnerable to a slowdown in overseas economies as it depends on exports including exports to emerging countries," he said.

"There was a view for a while that Japanese stocks may be immune to those problems, but that is fading."

As of 0033 GMT, the benchmark Nikkei .N225 had shed 45.74 points to 13,192.15 while the broader Topix fell 0.4 percent to 1,292.75.

Honda fell 0.8 percent to 3,550 yen, while Toyota Motor Co (7203.T: Quote, Profile, Research) slipped 0.6 percent to 4,890 yen. Sony Corp (6758.T: Quote, Profile, Research) shed 0.9 percent to 4,590 yen.

Major bank shares eased after their European peers fell on concerns about further write-downs, with Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research) down 0.4 percent at 933 yen.

On the upside, Showa Denko KK (4004.T: Quote, Profile, Research) jumped 6 percent to 301 yen after the Nikkei business daily reported the firm likely beat its own net profit forecast for the first half of 2008 due to robust demand for artificial graphite electrodes used to make steel from steel scrap. [ID:nT314165] (Reporting by Aiko Hayashi; Editing by Brent Kininmont)