Singapore's shares climbed on Wednesday, mirroring regional gains, as investors welcomed China's economic targets, while US Commerce Secretary Howard Lutnick signaled possible tariff relief.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,888.60 and 3,911.04 throughout the day. It ended the session at 3,898.40, up 7.64 points or 0.2% compared to Tuesday's close.

In economic news, Singapore's retail sales rose 4.5% in January on a year-on-year basis, reversing the 2.9% decline in December 2024, according to data released by the Department of Statistics, Singapore on Wednesday.

Furthermore, Singapore's private sector expanded in February, with the S&P Global Purchasing Managers' Index (PMI) climbing to 51 from 49.9 in January, signaling a return to growth.

In company news, Grand Banks Yachts (SGX:G50) closed 2% higher on Wednesday, as it unveiled its dedicated composite manufacturing facility in Malaysia.

Shares of Wee Hur's (SGX:E3B) shares were up nearly 4% at the close, as its proposed disposal of a 37.1% stake in target group trusts from its WH PBSA portfolio neared its conclusion after the purchaser, Evolution Trustees, received a no-objection notice in writing from the Australian Commonwealth Treasury.

STI up 0.2%; Yoma Strategic rose 4%; YZJ Shipbldg rose 3%; SingPost rose 2.7%; Olam, CityDev rose 2.6%; Sembcorp rose 1.6%.