Japan's Nikkei rises ahead of BOJ decision, buoyed by weaker yen

TOKYO, March 19 (Reuters) - Japan's Nikkei share average rose on Wednesday, with automaker shares helped by a weaker yen, while investors awaited a policy decision from the Bank of Japan later in the day.

The Nikkei .N225 was up 0.6% to 38,063.98 as of 0142 GMT, after rising to as high as 38,097.95 earlier in the session. It topped the psychologically significant 38,000 mark on Tuesday as well, but failed to close above that level.

The broader Topix .TOPX gained 0.9%.

The yen ticked lower to stand at 149.59 per dollar JPY=EBS, continuing its retreat from a more than five-month high of 146.545 reached last week.

Transport equipment .ITEQP.T was among the top performing indexes among the Tokyo Stock Exchange's 33 industry groupings, appreciating 2.1%. A weaker currency boosts the value of overseas sales in yen terms.

Wholesale .IWHOL.T climbed 2.4% to be the best performer, continuing this week's rally after Warren Buffett's Berkshire Hathaway BRKa.N raised its holdings in several Japanese trading houses.

However, gains were limited ahead of interest rate decisions from the BOJ and U.S. Federal Reserve later on Wednesday, although both are expected to leave policy unchanged.

The focus will be on guidance from the accompanying statements and press conferences, particularly with regards to the impact of U.S. President Donald Trump's aggressive and erratic tariff campaign, which has triggered a global trade war.

"Concerns about a worsening of the U.S. economy under Trump's tariffs is deeply rooted, and it will take a toning down on trade policy for the market's mood to improve," said Kazuo Kamitani, a strategist at Nomura Securities.

The BOJ doesn't release its statement at a set time, but it generally comes some time after 0230 GMT, when Japanese markets close for an hour for the midday recess.

Japanese markets are closed on Thursday for a national holiday, meaning any chance to react to the Fed meeting will be delayed by one day.