Singapore's stock market closed higher on Tuesday, mirroring most Asian peers that rose following another rally on Wall Street fueled by big technology companies.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,820.11 and 3,836.04 throughout the day. It ended the session at 3,828.17, up 6.33 points or 0.2% compared to Monday's close.

In economic news, Singapore's foreign exchange reserves grew to SG$506.7 billion in December 2024 from SG$505.7 billion in the preceding month, according to preliminary data from the Monetary Authority of Singapore.

In terms of star stocks, Seatrium rose 2.3%; DBS rose 1.3%; SingPost rose 0.9%; UOB rose 0.7%; while Genting Singapore fell 0.7%; SIA fell 0.8%; Keppel fell 0.9%; NIO fell 1.1%; Top Glove fell 1.2%; CapitaLand Investment fell 2.3%.

Shares of Hoe Leong (SGX:H20) slumped 50% at the close after it allotted and issued 40,333,333 shares pursuant to the vesting of awards under its performance share plan.

Beng Kuang Marine (SGX:BEZ) was down over 4% after it appointed Chua Ding En as the chief executive officer of its Corrosion Prevention Division.

Meanwhile, shares of Zixin Group (SGX:42W) were up over 3% after it secured its first probiotic-infused fermented sweet potato feedstock order from a chicken poultry breeder farm based in Liancheng County, China.