TOKYO, June 30 (Reuters) - Japan's Nikkei share average fell on Friday, dragged down by heavyweight technology shares as investors paused buying ahead of corporate earnings season, but the index is set to post a weekly gain.

The Nikkei index fell 0.53% to 33,058.99 by the midday break. But the index is set to gain 0.85%, recovering from its first weekly loss after 10 straight weeks of gains.

The broader Topix was down 0.75% to 2,279.00 but is set to post a 0.63% weekly gain.

"The boom for Japanese stocks has paused for now. The rally was led by expectations for better outlook of Japanese companies but investors have not seen the answers yet," said Jun Morita, general manager of the research department at Chibagin Asset Management.

"That does not mean the Nikkei has reached its peak. It could rise further next month if investors confirm strong corporate outlook as earnings season kicks off."

The Nikkei hit a three-decade high earlier this month, driven by a boom in chip-related companies and inflows into trading houses after billionaire investor Warren Buffett said he was adding to investments in the sector.

But foreign investors, who led the rally, turned net sellers Japanese equities for the first time last week after 12 straight weeks of purchases.

Chip-making equipment maker Tokyo Electron lost 0.87% to drag the Nikkei the most. Silicon wafer maker Shin-Etsu Chemical fell 1% and medical equipment maker Terumo slipped 1.55%.

Bucking the trend, Takashimaya surged 5.99% after the department store operator raised its annual operating profit outlook. Peer Isetan Mitsukoshi Holdings rose 1.5%.

Uniqlo brand owner Fast Retailing rose 0.69% to provide the biggest support tot the Nikkei. Contact lens maker Hoya rose 1.18% and soy sauce maker Kikkoman advanced 0.91%.

Only three out of 33 industry sub-indexes on the Tokyo Stock Exchange rose, with shipping firms rising 1.56%.

(Reporting by Junko Fujita; Editing by Rashmi Aich)