Singapore shares rose on Wednesday even as the city-state's business sentiment was dampened due to US President Donald Trump's baseline tariffs impacting 55% of the country's domestic exports to the US.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,801.73 and 3,832.51 throughout the day. It ended the session at 3,832.51, up 27.33 points or 0.72% compared to Tuesday's close.

In economic news, business sentiment across major sectors in Singapore, particularly the services sector, is cautious and less favorable for the April-September period, according to separate surveys by the Department of Statistics and EDB.

In other econominc news, total loans and advances to residents in Singapore totaled SG$846.5 billion in March, with building and construction loans contributing SG$177.8 billion, according to data released by the Monetary Authority of Singapore.

Meanwhile, Foreign Direct Investments or FDI inflows into Singapore grew to SG$192 billion year over year in 2024, a 5.6% increase from the previous year, according to data released by the Singapore Department of Statistics.

In company news, Wilmar International's (SGX:F34) shares were up nearly 1% at the close after the company's core net profit was up 4.4% during the first quarter of 2025 to $343.0 million from $328.4 million a year earlier.

Shares of Micro-Mechanics (SGX:5DD) were up nearly 3% after the company's profit after tax for the fiscal quarter ended March 31, surged 73% to SG$3.2 million from SG$1.8 million a year earlier.

Meanwhile, shares of Singapore Technologies Engineering (SGX:S63) was up under 1% after its subsidiary, ST Engineering RHQ, priced $750 million worth of 4.250% bonds due 2030 under the SG$5 billion global medium term bonds program.