TOKYO, April 28 (Reuters) - Japanese shares rose on Thursday as technology heavyweights led the gains, although investors remained cautions ahead of an outcome of a two-day Bank of Japan (BOJ) policy meeting.

By 0149 GMT, the Nikkei share average was up 0.5% at 26,516.32, after entering negative territory earlier in the session. The broader Topix had risen 0.83% to 1,876.13.

"Sentiment was supported by a very limited loss on the Nasdaq overnight after its big losses in its previous session," said Takatoshi Itoshima, a strategist at Pictet Asset Management.

"But, investors were very cautious as they await the outcome of the BOJ's policy meeting. It is unlikely that the central bank would change its dovish stance, but if it does, the currency market could move and that would affect the stock market."

Investors also stayed away from making active bets ahead of a long holiday starting Friday, and the FOMC's actions (U.S. Federal Open Market Committee), Itoshima added

Japanese markets will be closed on Friday, as well as Tuesday through Thursday next week for a series of public holidays known as the Golden Week.

Overnight, the Nasdaq Composite dropped 0.01%, after posting its lowest close since December 2020 in the previous session, while the Dow Jones Industrial Average and the S&P 500 ended higher.

Among individual shares, chip-testing equipment maker Advantest jumped 4.29%, followed by silicon-wafer maker Shin-Etsu Chemical's 2.81% climb.

Uniqlo clothing shop operator Fast Retailing was the biggest drag on the Nikkei, losing 1.28%, followed by Medical services platform M3, which fell 5.13%.

Kikkoman fell for a second day, losing 5.68%, after the soy sauce maker failed to flag outlook due to rising costs. (Reporting by Junko Fujita; editing by Uttaresh.V)