Singapore shares declined on Wednesday as the country awaits the impact of the latest in sweeping retaliatory tariffs that US President Donald Trump is expected to impose on its global trading partners.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,924.92 and 3,965.13 throughout the day. It ended the session at 3,954.21, down 14.64 points or 0.37% compared to Tuesday's close.

In company news, shares of Wee Hur (SGX:E3B) were down nearly 3% at the close after the developer completed the disposal of seven purpose-built student accommodation assets to Australia's Greystar.

Sembcorp Industries (SGX:U96) was up over 2% after the company entered into a sale and purchase agreement with KPIC Netherlands, Kyuden International and Japan Bank of International Cooperation (JBIC) to acquire up to 57.1% interest in Lion Power.

Meanwhile, shares of Singtel (SGX:Z74) were down over 1% after its Bangkok-listed unit, Intouch Holdings (BKK:INTUCH) and Gulf Energy shareholders approved the resolution to amalgamate which was accepted by the Department of Business Development of the Ministry of Commerce.

STI fell 0.4%; Sembcorp up 2.5%; Seatrium up 1.5%; ST Engineering fell 2.6%; SingPost fell 2.4%; SIA fell 1%.