Singapore shares surged on Wednesday, tracking regional gains as countries start reaching trade deals with the US, while the city-state's inflation remained unchanged during June.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,203.88 and 4,231.28 throughout the day. It ended the session at 4,231.28, up 23.02 points or 0.55% compared to Tuesday's close.

In economic news, Singapore's MAS core inflation, which excludes the cost of accommodation and private transport, stood at 0.6% in June, unchanged from May, according to data released by the Monetary Authority of Singapore (MAS).

In company news, Disa's (SGX:532) shares were up over 100% at the close as its subsidiary, Advance Digital Healthcare, agreed to purchase a 50% stake in Rheumatology Associates from Yoon Kam Hon for SG$5.5 million.

DFI Retail (SGX:D01) was up over 9% as the company booked an attributable loss of $38 million for the half ended June 30, against an attributable profit of $95 million a year earlier.

Meanwhile, shares of SIA Engineering (SGX:S59) were down over 2% at the close with the company's net profit for fiscal Q1 ended June 30 rising to SG$42.9 million from SG$33.2 million a year earlier.