TOKYO, Sept 22 (Reuters) - Japan's Nikkei share average

jumped more than 1% on Monday, as concerns over the impact of

the Bank of Japan's decision to sell its holdings of riskier

assets receded.

As of 0124 GMT, the Nikkei was up 1.4% at

45,675.92.

The broader Topix rose 0.9% to 3,175.71.

At the two-day meeting that concluded on Friday, the BOJ

announced that it would sell its holdings of exchange-traded

funds (ETFs) in the market at an annual pace of around 330

billion yen ($2.23 billion), as part of the central bank's

efforts to phase out its massive monetary stimulus.

On Friday, the Nikkei reversed early gains to fall as much

as 2% shortly after the BOJ's announcement, before ending the

session 0.57% lower.

"Investors overreacted to the BOJ's announcement of the sale

of ETFs. And today, the market is rebounding from the decline,"

said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo

Intelligence Laboratory.

"The pace of the BOJ's sale of ETFs is slow, and the market

just wondered why they turned so bearish on Friday," he said.

Chip-related shares rose to provide the biggest boost to the

Nikkei, with Advantest ( ADTTF ) and Tokyo Electron ( TOELF )

rising 3.56% and 5%, respectively.

Uniqlo-brand owner Fast Retailing ( FRCOF ) rose 1.14%.

On the other hand, technology investor SoftBank Group

lost 0.44% to become the biggest drag for the Nikkei.

($1 = 148.2100 yen)