Singapore shares closed 1.66 percent higher on Wednesday, as strong U.S. manufacturing data and gains in oil prices eased worries about a global slowdown and pushed U.S. stocks sharply higher overnight.

The Institute for Supply Management's (ISM) index of factory activity, a closely-watched measure of the U.S. manufacturing sector, rose more than expected last month. U.S. construction spending also rose to the highest level since October 2007.

In the oil market, Brent crude futures and U.S. crude futures hit three-month high and one-month high respectively.

Singapore's benchmark Straits Times Index rose 44.57 points to 2,726.96 points. Trading volume was 1.98 billion shares worth 1.52 billion Singapore dollars.

Advancers outnumbered decliners 285 to 124, while 512 stocks did not move.

Otto Marine jumped 5 percent to 21 Singapore cents. It announced it received a vessel-chartering contract worth 48 million Singapore dollars to provide support to a gas field in Australia to an unnamed exploration and production firm for five years.

The contract includes an option to extend the contract for another five years. Otto operates more than 50 offshore support vessels that carry spares and provisions for the offshore oil industry.

Singapore Airlines shed 1 percent to 11.38 Singapore dollars. It said it will launch the inaugural long-haul flight of its new Airbus A350-900 fleet to Amsterdam on May 9. The A350 will serve the airline's daily flight to Amsterdam as SQ324, as well as its return flight SQ323.

Among the top gainers, Jardine Cycle and Carriage rose 3 percent to 36.60 Singapore dollars, whereas Lion Asiapac became one of the top losers by falling 27.9 percent to 22 Singapore cents. (1 U.S. dollar equals to 1.40 Singapore dollars) Enditem

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