Singapore shares closed 0.88 percent higher on Wednesday, boosted by another record high for U. S. stocks and unexpectedly strong German industrial orders.

The U.S. Standard and Poor's 500 Index touched an intraday record high and the Dow Jones industrial average closed above 15, 000 for the first time on Tuesday.

Germany, Europe's largest economy, reported a surprise 2.2 percent rise in industrial orders in March against forecast of a 0. 5 percent drop.

Meanwhile, China reported better-than-expected trade numbers for April. Its exports rose 14.7 percent in April from a year ago while imports grew 16.8 percent, leaving the country with a trade surplus of 18.16 billion U.S. dollars for the month.

OCBC Investment Research said "the run in global stock market continued on the back of solid earnings from energy and media companies in the U.S. and banks in Europe, strong German manufacturing data and a successful bond sale in Portugal." The research house pegged the immediate resistance of Straits Times Index at 3,420 points.

Phillip Securities Research said "Straits Times Index is on track to challenge the 3,485 points peak as long as it remains above 3,250 points key support."

Singapore's benchmark Straits Times Index rose 29.86 points to 3,413.02 points, its highest since January 2008. Trading volume was 2.74 billion shares worth 1.93 billion Singapore dollars. Advancers outnumbered decliners 291 to 145, while 514 stocks did not move.

Wilmar International rose 2.1 percent to 3.38 Singapore dollars. The Singapore palm oil firm reported a rise in first-quarter net profit of 315.4 million U.S. dollars, up 23 percent from 255.9 million U.S. dollars a year earlier, largely due to a recovery in its oilseeds and grains segment.

ST Engineering ended flat at 4.37 Singapore dollars. It recorded a net profit of 134 million Singapore dollars in the first quarter ended March 31, down 0.3 percent from a year earlier. The engineering group attributed the drop to lower revenues at its electronics arm.

OSIM International shed 1 percent to 2.01 Singapore dollars. The lifestyle products group reported a net profit of 25.1 million Singapore dollars in the first quarter, up 13.2 percent from the previous year, boosted by an increase in sales and better productivity.

Among top gainers, Jardine Matheson rose 3.5 percent to 67.49 U. S. dollars, while Jardine Cycle and Carriage became one of the top losers by sinking 0.3 percent to 47.60 Singapore dollars. (1 U.S. dollar equals to 1.23 Singapore dollars) Enditem

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