Singapore shares continued their upward trajectory on Wednesday, gaining nearly a point at the close, as regional markets respond positively to optimism around the US and China scaling back their tariffs stance.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,817.31 and 3,842.97 throughout the day. It ended the session at 3,832.32, up 36.91 points or 0.97% compared to Tuesday's close.

In economic news, Singapore's MAS core inflation, which excludes the cost of accommodation and private transport, eased to 0.5% year on year in March, from 0.6% in February, due to lower inflation across all broad core categories.

In company news, shares of Keppel REIT's (SGX:K71U) rose nearly 2% at the close as the REIT's distributable income from operations slipped 3.5% to SG$48.4 million in the first quarter of 2025 from SG$50.2 million a year earlier.

Shares of ESR REIT (SGX:J91U) were up nearly 5% at the close after it bought back and canceled 5 million shares in the open market for SG$1.1 million or SG$0.2099 apiece.

Meanwhile, Leader Environmental (SGX:LS9) wholly owned subsidiary, United Greentech (Guangzhou), secured a 72 million yuan build-operate-transfer contract to treat municipal sludge from wastewater treatment plants in Henan, China.