Tokyo  - Japan's benchmark Nikkei 225 Stock Average rose in a morning of mixed trading Friday, but its gains were capped by a gloomy economic outlook.

The Nikkei rose 47.7 points, or 0.57 per cent, to 8,421.09, but the broader Topix index of all first-section issues dipped 0.21 points, or 0.03 per cent, to 828.82.

Increases were limited after Japan's home electronics company Panasonic Corp slashed its earnings projections for the current fiscal year, which ends March 31.

Panasonic on Thursday revised downward its net profit for the full year, expecting it to fall 89 per cent from last year, operating profit to drop 35 per cent and sales to dip 6 per cent.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 95.43-48 yen, up from Thursday's 5 pm quote of 95.10-13 yen.

The euro was quoted at 1.2892-97 dollars, almost unchanged from Thursday's 5 pm quote of 1.2892-95 dollars, and at 123.04-09 yen, up from 122.63-67 yen. (dpa)