TOKYO, Jan. 29 (Xinhua) -- Tokyo stocks rebounded on Wednesday, tracking gains in the U.S. stock market, although caution remained ahead of the U.S. Federal Open Market Committee (FOMC) meeting.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed up 397.91 points, or 1.02 percent, to end at 39,414.78.

Gains in heavyweight stocks such as Fast Retailing, SoftBank Group, Tokyo Electron, and Advantest supported the index. Tokyo Electron strengthened in the afternoon following strong earnings reported by Dutch semiconductor equipment maker ASML Holding.

The Nikkei initially surged around 430 points in early trade, driven by overseas buying, but gains moderated later in the session as pharmaceutical stocks underperformed.

The broader TOPIX index also rebounded, closing up 18.69 points, or 0.68 percent at 2,775.59.

Among the listed stocks on the Tokyo Stock Exchange Prime Market, 856 advanced, 742 declined, and 43 remained unchanged. Enditem

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