Singapore shares extended gains on Wednesday while the majority of the regional indices declined, as US President Donald Trump sent letters to 14 countries, outlining new levies, reaffirming not to extend a deadline to reach deals.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,046.27 and 4,064.58 throughout the day. It ended the session at 4,057.82, up 9.96 points or 0.25% compared to Tuesday's close.

UOL, YZJ Shipbldg up over 3%; Food Empire, Seatrium up around 2%; SIA, Kep Infra Tr, ThaiBev up over 1%.

In company news, shares of Sing Holdings were up over 1% at the close with its subsidiary, Sing Holdings Residential and Sunway Developments, submitted a bid of around SG$703.6 million for a land parcel at Chuan Grove in Singapore.

IREIT Global signed two new leases in Spain, taking its overall occupancy to 83%. It closed flat on Tuesday.

Meanwhile, mm2 Asia received a statutory demand from Linkwasha Holdings in relation to a loan amount extended by the latter to the company.