TOKYO — Japan's benchmark Nikkei 225 index closed higher Wednesday, extending its recent advance as a weakening yen lifted bank shares and a late-session rally in artificial intelligence and semiconductor stocks helped push the market further into record territory.

The Nikkei 225 climbed 553.84 points, or 0.83%, to close at 67,524.06. The broader Topix index, which tracks a wider swath of the Tokyo Stock Exchange's Prime Market, rose 38 points to close at 4,139, marking a fresh all-time closing high for that benchmark.

Trading unfolded in two distinct phases during Wednesday's session. In the morning, selling pressure tied to rising crude oil prices offset buying driven by yen weakness, leaving the Nikkei 225 oscillating without clear direction for much of the session. At one point, the index fell by more than 230 points before recovering, with nearly 60% of stocks on the Prime Market still advancing even during the choppier morning stretch, led by gains in automotive and energy-related shares. The morning session ultimately closed modestly higher at 67,040.18, up 69.96 points.

The afternoon brought a more decisive shift higher, as buying intensified in high-priced artificial intelligence and semiconductor-related stocks. That momentum was........

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