TOKYO, June 11 (Reuters) - Japan's Nikkei share average rose during morning trade on Tuesday as investors cheered record closing highs on Wall Street, which prompted a jump in heavyweight domestic semiconductor stocks.

The Nikkei was up 0.3% at 39,155.16 by the midday break, after touching a three-week high of 39,336.66 earlier in the session.

The broader Topix rose 0.21% to 2,788.27.

Despite a choppy session on Wall Street overnight, the S&P 500 and Nasdaq both logged record closing highs, boosting sentiment during Tokyo trading.

Japan's heavyweight technology shares, in particular, performed strongly, tracking a 1.4% rise on the Philadelphia SE Semiconductor Index.

The domestic benchmark, however, shed some gains in the latter half of the session as investors exercised caution ahead of the U.S. CPI report for May, due Wednesday, along with the conclusion of the Federal Reserve's two-day policy meeting.

The Fed is widely expected to hold interest rates, putting the focus on indications of how soon policymakers expect to begin policy easing after a stronger-than-expected U.S. jobs report, which stirred concerns again.

But markets continue to take comfort that the central bank's next move will be a cut and not another hike, said Charu Chanana, global market strategist and head of FX strategy at Saxo.

"That is helping U.S. and Japanese stocks, along with sustained AI momentum."

A weak yen also continues to support Japanese equities, while the political turmoil in Europe could bring more flows from long-term investors, Chanana added.

The dollar last traded around 157.21 yen.

Meanwhile, the Bank of Japan is expected to keep short-term interest rates in a 0-0.1% range at its meeting later this week, although policymakers are brainstorming ways to slow its bond buying.

Among individual stocks on Tuesday, chip-making equipment giant Tokyo Electron was up 2.2%, while chip-testing equipment maker Advantest climbed 0.9%.

Medical supplies manufacturer Terumo gained 1.1%, while Chugai Pharmaceutical rose 2.6%.

Fellow pharmaceutical firm Eisai declined about 3%.

(Reporting by Brigid Riley; Editing by Sonia Cheema)