(Updates at 0600 GMT)

TOKYO, June 6 (Reuters) - Japan's Nikkei share average

ended higher on Thursday as Tokyo Electron ( TOELF ) and other

chip-related stocks tracked their U.S. peers higher, but gains

were capped amid caution ahead of global central bank meetings.

The Nikkei rose 0.55% to close at 38,703.51. The

index rose as much as 1.35% to cross the 39,000 level earlier in

the session.

"Chip shares lifted the Nikkei, but its gains were

capped as investors sold stocks as soon as the index crossed a

milestone," said Shuutarou Yasuda, a market analyst at Tokai

Tokyo Intelligence Laboratory, referring to the 39,000 level.

Chip-making equipment maker Tokyo Electron ( TOELF ) jumped

3.46% to provide the biggest boost to the Nikkei. Chip-testing

equipment maker Advantest ( ADTTF ) jumped 3.91%.

U.S. chip stocks leapt 4.5% overnight, buoyed by

gains to Nvidia ( NVDA ) and Taiwan Semiconductor Manufacturing

.

Nvidia's ( NVDA ) market value hit the $3 trillion mark for the first

time as the chipmaker overtook Apple ( AAPL ) to become the

world's second-most valuable company.

"Until the market confirms policy path of central banks in

the U.S., Europe and Japan, it will be hard to make active bets

on stocks," Yasuda said.

The European Central Bank meets on Thursday, and markets

price in an almost certain chance of a first rate cut. The

Federal Reserve and the Bank of Japan will hold their policy

meetings next week.

The broader Topix rose 0.33% to 2,757,23.

Of the more than 1,600 stocks traded on the Tokyo Stock

Exchange's prime section, 36% rose while 59% fell, with 3% flat.

Technology investor SoftBank Group jumped for a

second straight session as activist investor Elliott Management

rebuilt a stake worth more than $2 billion and called for a $15

billion share buyback.

But the stock erased most of its early gains to end up

1.39%.