Nikkei takes cue from Wall Street records, on track for weekly gain
* Nikkei up more than 3 pct for the week
* Expectations of BOJ ETF buying support sentiment
TOKYO Aug 12 (Reuters) - Japan's Nikkei share average rose on Friday, on track for a robust weekly gain, as records on Wall Street and a weaker yen lifted sentiment.
Markets in Japan were closed on Thursday for a public holiday, with some participants opting to take Friday off as well.
The Nikkei was up 0.7 percent at 16,856.27 at the end of morning trade. It rose as high as 16,902.71 earlier, its highest since July 21, and was poised to gain 3.7 percent for the week.
All three major U.S. stock indexes closed at record highs on Thursday for the first time since 1999, with the Dow Jones industrial average climbing 0.6 percent.
"The Dow reaching a high encourages more buying in the Tokyo stock market," said Hiroki Allen, chief representative of Superfund Japan in Tokyo.
A weaker yen also gave a tailwind to the market. The dollar rose 0.2 percent to 102.15, up 0.3 percent for the week.
The Bank of Japan bought 70.7 billion yen ($693 million) of exchange traded funds on Wednesday, suggesting the central bank plans to buy ETFs about once every three days rather than buying more frequently. Continuación...