Share prices finished higher as stronger-than-expected May machinery orders data, highlighting the growing strength of the economy, spurred bargain hunters into the market, dealers said. The Nikkei 225 Stock Average closed up 245.20 points or 1.6 pct at 15,552.81, after moving between 15,079.74 and 15,555.43. The broader TOPIX index of all first-section issues rose 20.92 points or 1.3 pct to 1,594.07, its high for the day. The index traded between 1,549.95 and 1,594.07. Advancers led losers 903 to 675, with 113 counters unchanged. Volume rose to 1.70 bln shares from 1.41 bln on Friday. The market opened weaker, after Wall Street's slide Friday, but the machinery orders data, coming on top of some other recent strong macroeconomic numbers, prompted bargain hunters to emerge, dealers said. "Upbeat (May) machinery orders, released early in the afternoon, helped boost market sentiment," Hitoshi Yamamoto, chief portfolio manager at Commerz International Capital Management (Japan) said. Core private-sector machinery orders fell a seasonally adjusted 2.1 pct in May from April, a sharply lower decline than the 5.5 pct expected by the market. Year-on-year, core machinery orders were up 15.8 pct. The data, which excludes volatile orders from electric utilities and for ships, are viewed as a leading indicator of corporate capital spending. Despite today's strong market bounce, Yamamoto was skeptical if it would continue. "Many market participants are wary ahead of this week's Bank of Japan (BoJ) policy meeting." While the central bank is widely expected to raise its key overnight rate by 25 basis points, the market focus will be on its accompanying statement and a press briefing from governor Toshihiko Fuku, i for any clues as to whether a further hike may be in the offing later in the year. Some analysts have speculated that the BoJ may raise its key rate again before the year is out.