TOKYO, Oct. 31 (Xinhua) -- Japan's benchmark Nikkei stock index closed at a six-week high on Monday, buoyed by technology issues rising following some solid earnings by U.S. tech heavyweights, although concerns remained over upcoming rate hikes by the U.S. Federal Reserve.

The 225-issue Nikkei Stock Average gained 482.26 points, or 1.78 percent, from Friday to close the day at 27,587.46.

The broader Topix index, meanwhile, jumped 30.38 points, or 1.60 percent, higher to finish at 1,929.43.

Brokers here said that investors took their cues predominantly from Wall Street's rally on Friday although said that uncertainty over the future course of the U.S. Federal Reserve's interest rate hikes remained ahead of its meeting this week.

"Japanese shares tracked the robust finish of the U.S. market and they are strong. But we can't be optimistic. There is speculation that a peak of Fed fund rates could be higher than expected and the U.S. Treasury yields rose on Friday," Shuji Hosoi, senior strategist at Daiwa Securities, was quoted as saying.

"It is still uncertain how the Treasury yields will move, which is negative to equities," Hosoi said.

Recent U.S. data showed that inflation pressure remained in the world's largest economy, which raised the prospect the Fed will stick with its aggressive monetary policy to tame inflation, analysts here said.

They added a media report showing economists believe the Fed could hike its rate to a higher-than-expected 5 percent by March 2023, rekindled fears over a recession hitting the U.S. economy, reversing views the Fed could ease the pace of its hikes from December.

Investment analysts said, however, that investors' focus was on U.S. earnings in the short-term, with Apple and Intel Corp.'s solid results lifting sentiment ahead of the Fed's meeting starting on Tuesday.

"Semiconductor shares drew buying due to a rise in U.S. shares. Investors also grabbed issues of Japanese firms with robust earnings," Masahiro Yamaguchi, head of investment research at SMBC Trust Bank, was quoted as saying.

"As some data continue to show high inflation in the United States, it is unlikely that the Fed will give any clear hints in the meeting about the size of a rate hike in December," Yamaguchi said.

By the close of play, electric appliance, marine transportation and land transportation issues comprised those that gained the most.

Among technology issues here following their U.S. peers higher, Nikkei heavyweight Softbank Group jumped 6.2 percent, while chip-equipment maker Tokyo Electron advanced 1.3 percent.

Advantest climbed 2.1 percent, while sensor maker Keyence surged 8.9 percent, after reporting its net profit rocketed 27.4 percent from a year earlier in the fiscal first half through September.

Export-oriented issues also found favor on hopes the yen's ongoing weak tone versus the U.S. dollar would positively impact repatriated profits and lift outlooks, with Toyota Motor accelerating 1.5 percent, while Yamaha gained 2.0 percent.

On the Prime Market on Monday, 1,228.50 million shares changed hands, falling from Friday's volume of 2,410.34 million.

The turnover on the first trading day of the week came to 3,185.39 billion yen (21.49 billion U.S. dollars). Enditem

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