Singapore shares ended lower on Wednesday amid mounting inflation concerns as elevated oil prices, driven by the ongoing U.S.-Iran stalemate, weighed on investor sentiment.

The Straits Times Index ranged between 5,024.99 and 5,069.45 throughout the day. It ended the session down by 27.43 points, or 0.5%, to close at 5,044.91.

On the corporate front, Singapore-listed shares of TSH Resources (SGX:TSH, KLSE:TSH) fell 7% at the close after the palm oil company reported a 56% decline in its attributable profit to 21.3 million ringgit from 48.2 million ringgit a year earlier.

TrickleStar (SGX:CYW) closed 3% lower as it was granted in-principle approval by the SGX-ST for the listing and quotation of 79.1 million shares.

Meanwhile, shares of Sembcorp Industries (SGX:U96) were up nearly 1% after its subsidiary, Sembcorp Energy UK, signed a joint development agreement to deliver the first phase of a new data center development at the Wilton International site in Teeside, UK.