Nikkei up but pares gains, economy worries weigh

Mitsubishi Corp and other trading houses extended losses as long-term oil demand was seen weak, raising fears about profits, while shipping firms sank further as freight rates continued to slide.

The benchmark Nikkei gained 129.66 points to 8,588.11 by the end of morning trade after earlier rising more than 3 percent. On Thursday it fell more than 11 percent for its biggest one-day loss since the stock market crash of 1987.

The broader Topix ended the morning up 2.4 percent at 885.17 after earlier rising more than 4 percent.