Singapore's stock market closed higher on Friday, despite the US Federal Reserve's remarks over the unlikelihood of further interest rate cuts.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,722.24 and 3,748.72 throughout the day. It ended the session at 3,744.70, up 6.54 points or 0.17% compared to Thursday's close.

In company news, shares of Sinostar PEC's (SGX:C9Q) crashed over 6% after its net profit attributable to equity holders plunged to 18.9 million yuan in the third quarter of the year, from 190.6 million yuan a year earlier.

Prime US REIT's (SGX:OXMU) was down nearly 1% as its income available for distribution declined to $8.5 million in the third quarter of the year, from $14.7 million in the year-ago period.

Meanwhile, ASL Marine's (SGX:A04) was down nearly 4% after the company's profit attributable to owners declined 96% to SG$130,000 from SG$3.2 million a year earlier.