17.03.201404:45:39UTC+00Japan markets continues to adrift on resilient Softbank

After shortly tickling upbeat area, the Nikkei Average is exchanging on a flat note, re emerging from its opening decline of 0.5%.

Aiding hold the Japanese blue-chip benchmark over water is Softbank: The telecom clinches a heavy weighting on the Nikkei Average, and it’s currently up a rocking 6%. The increase comes as shareholders stand to make a tidy sum of money if Alibaba (of which Softbank controls 37%) goes ahead with a U.S. IPO, as reports are stating.

Without the Softbank hikes, the Nikkei might be closer to where the broader Topix is exchanging —currently in a downbeat mark of 0.5%. Part of this is the yen’s continued surge and a negative lead from Wall Street, as surging tensions in Ukraine dampen global risk appetite. Right now, the dollar is traded at 101.38 yen, clinching on to losses seen late last week.

Thus, we see Sony decline 1.4%, Fujitsu and Fanuc missed 1.5% each, and NEC gave up 3.2%.

Automakers are a bit closer to the flatline though, with Toyota Motor unaltered (after brief hikes this morning), Nissan relinquished 0.2%, Mazda jumped 0.2%, and Honda surrendered 0.1% despite a recall of some of its Honda Odyssey vehicles in the U.S.

Not doing so well, however, is Aeon, sagged down by 4.4% after slashing down about 20% from its net-profit projection for the fiscal year that ended last month.

And Nikon missed 2.6% as China’s state television made the camera firm the focus of its latest consumer expose. CCTV said Nikon is merchandising faulty cameras, among other issues, based on the report from The Wall Street Journal.