* Investors' attention turns to U.S. Fed, BOJ meetings
* Japan Tobacco soars on plans to raise tobacco prices
* Takata tumbles on a fresh recall in the U.S.
By Ayai Tomisawa
TOKYO, Jan 25 (Reuters) - Japan's Nikkei share average rose to a more than a one-week high on Monday, helped by a sharp rebound in oil prices which boosted markets globally.
But after the Nikkei share average posted the biggest single-day gain in more than four months on Friday, trading was choppy, which sent the benchmark index into negative territory earlier.
After recovering from the dip, the Nikkei gained 1.3 percent to 17,173.46 points, the highest level since Jan. 15.
Oil prices surged 10 percent on Friday, one of the biggest daily rallies ever, and clung on to the gains in Asia on Monday.
Meanwhile, investors are focused on the U.S. Federal Reserve and Bank of Japan meetings this week.
The Nikkei has dropped more than 10 percent since the beginning of the year as investors have become risk averse on the back of falling oil prices and worries about the Chinese economy.
If investors become further risk-averse and a wave of buying in a safe-haven yen hits, Japanese exporters' earnings will likely get affected, analysts said.
"Whether the market rebounds or not relies on what the BOJ will deliver this week," said Fujio Ando, senior managing director at Chibagin Securities, adding that if the central bank gives no surprises, investors may become increasingly worried about the Japanese economy.
While the BOJ is expected to hold steady this week at its two-day meeting on Thursday and Friday, downbeat economic reports have increased market speculation of more easing steps this year.
Japanese trade data released early on Monday showed exports skidded 8 percent from a year earlier, a deeper drop than forecast and down for the third straight month as the slowdown in China and emerging markets took a toll.
On Monday, Japan Tobacco soared 7.7 percent and was the fourth-most traded stock by turnover after announcing plans to raise prices on its core cigarette lineup.
Takata Corp tumbled 10 percent after U.S. regulators announced on Friday a fresh recall of 5 million vehicles equipped with its potentially defective air bag inflators.
Exporters were mixed, with Toyota Motor Corp falling 0.2 percent, Honda Motor Co shedding 0.7 percent and Panasonic Corp rising 0.8 percent.
The broader Topix rose 1.1 percent to 1,389.90 and the JPX-Nikkei Index 400 gained 1.2 percent to 12,537.71.
(Editing by Kim Coghill)