Singapore's stock market declined on Thursday, mirroring broader losses across Asia after the US Federal Reserve lowered its key interest rate by a quarter percentage point, but indicated that it will probably only lower twice more in 2025.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,739.49 and 3,776.43 throughout the day. It ended the session at 3,762.88, down 16.74 points or 0.44% compared to Wednesday's close.

YZJ Shipbldg rose 2.85%; NIO fell 3.23%; Singtel fell 1.9%; Frazers HTrust fell 1.85%.

In company news, shares of Memiontec plunged over 30% as the company revealed plans to boost its working capital through a renounceable non-underwritten rights cum warrants issue.

Grand Venture Technology surged over 9% at the close after it became a preferred supplier of high-level assembly and components for thermal compression bonding (TCB) equipment by an unnamed semiconductor assembly and packaging equipment manufacturer.

Meanwhile, Salt Investments entered into a legally non-binding agreement with Hong Kong's Poly Million to acquire a majority stake in TT Oil. Its shares closed flat on Thursday.