Singapore shares surged at the close on Wednesday, bucking a downbeat trend among Asian peers caused by the Trump administration's order to tighten curbs on Nvidia's chip exports to China.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,619.44 and 3,662.45 throughout the day. It ended the session at 3,662.45, up 37.73 points or 1.0% compared to Tuesday's close.

In company news, shares of China Everbright Water (SGX:U9E, HKG:1857) were up over 5% after it issued the 2025 second tranche of medium-term bonds worth 1 billion yuan with a maturity period of five years.

Oiltek International (SGX:HQU) was up nearly 3% at the close after the company secured new contracts worth about 61.9 million ringgit from Africa, the Americas, Thailand, Indonesia and Malaysia.

Meanwhile, shares of Tianjin Pharmaceutical Da Ren Tang (SGX:T14, SHA:600329) were down over 1% after the company proposed to dispose of its remaining 12% stake in Tianjin TSKF Pharmaceutical to Haleon China and Haleon CH.