Singapore's stock market remained in the red zone on Wednesday as trade tensions between US and China continued, with the latter responding in kind to the former's trade tariffs.

The STI.SI, a key benchmark for the Singapore Exchange, ranged between 3,805.46 and 3,840.68 throughout the day. It ended the session at 3,815.37, down 7.64 points or 0.2% compared to Tuesday's close.

In economic news, Singapore's retail sales declined 2.9% in December 2024, following a 0.5% drop in November, according to data from the Department of Statistics.

Meanwhile, S&P Global Singapore Purchasing Manager's Index or PMI, a composite single figure indicator of performance, dipped under the 50.0 no-change mark during January, according to figures released by S&P Global. PMI was 49.9, down from 51.5 in December 2024.

In company news, shares of Sunpower were up nearly 9% after it received an approval in principle from the Singapore Exchange Securities Trading for the listing and quotation of up to SG$99.6 million worth of 7% bonds.

Frasers L&C Tr was up over 1% after the trust reported an occupancy rate of 94.3% for the fiscal first quarter ended Dec. 31, 2024.

MTQ was up over 2% at the close after it bought back 50,800 shares in the open market for SG$12,734 or SG$0.25 apiece.

Keppel DC Reit rose 3%; YZJ Shipbldg rose 2%; SGX rose 1%; Nio fell 4%; OUE fell 2%; SATS fell 1%.