Singapore shares extended gains on Tuesday, following regional trends, as markets responded well to anticipation of additional US interest rate cuts.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,607.11 and 4,642.61 throughout the day. It ended the session at 4,638.97, up 28.68 points or 0.62% compared to Monday's close.

In economic news, Singapore's MAS core inflation, which excludes the cost of accommodation and private transport, remained steady at 1.2% year on year in November, matching the rate recorded in October, according to a joint announcement by the Monetary Authority of Singapore and the Ministry of Trade and Industry.

In corporate news, shares of Addvalue Technologies (SGX:A31) were down over 4% at the close as its holders, sent notices to the company, exercising the right to convert around 33.5 million convertible loan bonds worth around SG$434,500 into ordinary shares at SG$0.0013 per bond.

Alpha Integrated REIT (SGX:M1GU) shares were up over 3% as Mindarie Investment, a subsidiary of Volare, intends to launch a mandatory conditional cash offer for all the issued and outstanding shares it does not own in the REIT for SG$0.48 per unit.

Meanwhile, shares of Ever Glory United (SGX:ZKX) were down nearly 1%, with the company expected to transfer from the Catalist to the Mainboard of the SGX on Dec. 29.