SGX Logo. Reuters

Singapore stocks rebounded on Wednesday, in line with other Asian markets and gains on Wall Street overnight, as concerns about North Korea's firing of a missile over Japan abated.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.35 percent.

Asian markets were roiled on Tuesday after North Korea fired a missile that flew over Japan and landed in the Pacific waters about 1,180 kilometers (735 miles) off the northern region of Hokkaido.

The United Nations, in a statement drafted by the United States, condemned the test but held back on any threat of new sanctions on the isolated state, Reuters reported.

At 0550 GMT, the Straits Times Index rose 0.41 percent or 13 points to 3,262. It ended 0.56 percent higher on Tuesday, taking the year-to-date gains to about 13 percent.

Lenders such as DBS Group Holdings rose 0.7 percent, United Overseas Bank gained 0.5 percent and Oversea-Chinese Banking Corp added 0.4 percent.

Furniture maker Koda jumped 8 percent after posting a near 156 percent jump in full-year net profit, powered by streamlining of its manufacturing operations coupled with the expansion of its retail brand Commune.

Telecoms services provider StarHub unveiled free unlimited weekend plans for its postpaid customers. The stock was up about 1 percent.

Singapore-based building maintenance firm ISOTeam secured 15 projects worth S$24.2 million, sending its shares up as much as 3 percent.

Among the laggards, ASL Marine Holdings shed 7 percent after reporting a wider fourth-quarter loss, hurt by higher impairments, lower revenue and weak margins amidst the worsening conditions in the marine industry globally.

About 1.2 billion shares worth S$608 million changed hands, with gainers outnumbering losers 221 to 132.