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Japan's Nikkei dips 0.2 pct as banks fall

Sun Jul 6, 2008 8:06pm EDT

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TOKYO, July 7 (Reuters) - The Nikkei stock average dipped 0.2 percent on Monday, weighed down by bank shares such as Mitsubishi UFJ Financial Group (8306.T) after their European peers fell on concerns about further write-downs.

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 run since a 15-day period in 1954.

As of 0001 GMT, the benchmark Nikkei .N225 had shed 25.09 points to 13,212.80 while the broader Topix fell 0.2 percent to 1,295.59. (Reporting by Aiko Hayashi)

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