Japan's Nikkei rallies on Wall Street's lead as BOJ decision looms

By Kevin Buckland

TOKYO, Sept 20 (Reuters) - Japan's Nikkei share average rose strongly in early trading on Friday, tracking overnight gains on Wall Street, while traders also kept a wary eye on a Bank of Japan policy announcement later in the day.

The tech-heavy Nikkei was up 1.8% at 37,822.84, as of 00:04 GMT, with chip-sector stocks outperforming in line with U.S. equity moves on Thursday. Chip-making equipment giant Tokyo Electron (TOELF) soared 4.6%.

Automakers also gained amid a weakening yen, which boosts the value of overseas revenue. Toyota Motor (TM) advanced 1.7%.

Of the Nikkei's 225 components, 211 rose, 12 fell and two were trading flat.

The broader Topix gained 1.42%.

The time of the BOJ announcement isn't set, but typically comes around 03:00-04:30 GMT. Stocks are in a midday recess from 02:30-03:30 GMT.

The central bank is set to keep monetary policy steady on Friday, but signal its confidence that solid wage growth and consumption will allow it to raise interest rates again in coming months.

BOJ Governor Kazuo Ueda is due to brief media at 06:30 GMT.

(Reporting by Kevin Buckland; Editing by Rashmi Aich)