Singapore shares spiraled back in the red zone on Wednesday, tracking losses from regional indices, with markets responding negatively to continued escalation between Iran and Israel.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,908.48 and 3,923.45 throughout the day. It ended the session at 3,920.81, down 9.83 points or 0.25% compared to Tuesday's close.

In company news, shares of Rex International (SGX:5WH) were up nearly 5% as its production averaged 10,874 barrels of oil equivalent per day in May, with volumes from Norway and Oman.

Shares of Wilmar International (SGX:F34) were down nearly 3% at the close after five of its Indonesian subsidiaries made a security deposit of 11.88 trillion Indonesian rupiah to the attorney general's office (AGO).

Meanwhile, Ying Li International Real Estate (SGX:5DM) entered into a supplemental deed agreement with China Everbright Finance to amend terms of a loan agreement.

STI fell 0.3%; SGX, Nio, YZJ Shipbldg fell 1%; DBS fell 0.5%; SIA Engineering up 1.6%.