Singapore shares surged at the close on Wednesday, tracking regional gains as US Federal Reserve chair hinted at the bank cutting interest rates again late this month.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,358.99 and 4,379.80 throughout the day. It ended the session at 4,368.42, up 13.90 points or 0.32% compared to Tuesday's close.

In company news, shares of Vin's Holdings (SGX:VIN) roared over 117% at the close as it launched a new digital payment initiative which allows customers to make payments through major cryptocurrencies and stablecoins.

Ever Glory United (SGX:ZKX) was up nearly 3% after the company said that it is looking to transfer to the Mainboard of the Singapore Exchange from the Catalist Board and has submitted an application on Tuesday.

Meanwhile, Centurion (SGX:OU8) was up nearly 1% as it acquired a land site located in London, UK, for around 41 million pounds sterling.