Singapore shares bounced back on Wednesday, tracking regional gains as markets responded to weak US data, which further boosted expectations of an interest rate cut by the US Federal Reserve in December.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,499.10 and 4,519.49 throughout the day. It ended the session at 4,501.56, up 15.93 points or 0.4% compared to Tuesday's close.

In economic news, Singapore's manufacturing output increased 29.1% year-on-year in October, backed by increased outputs from several clusters, according to data released by EDB Singapore.

In corporate news, shares of Seatrium (SGX:5E2) rose nearly 3% at the close as it secured an engineering, procurement, construction and onshore commissioning of the Tiber Floating Production Unit from BP Exploration and Production for the Gulf of America.

EuroSports Global (SGX:5G1) shares surged over 20%, as the company increased its stake in Prosper Auto through the acquisition of 145,029 shares from Eden Capital for around SG$1.8 million.

Meanwhile, Raffles Education (SGX:NR7) closed over 5% lower, as it allotted and issued 2 million and 21 million conversion shares on Nov. 3 and Nov. 20, respectively, at SG$0.065 per share following the conversion of two convertible bonds amounting to SG$130,000 and SG$1.4 million.