Singapore's stock market closed off the week in red on Friday, as global markets continued to respond to US Federal Reserve's outlook of fewer interest rate cuts in 2025.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,719.93 and 3,751.45 throughout the day. It ended the session at 3,719.93, down 42.95 points or 1.14% compared to Thursday's close.

Sinarmas Land rose 5%; Olam Group rose 2.6%; NIO rose 2.23%; Bnak Stocks slid between 1% and 2%; Sri Trang Gloves fell 5%.

In company news, shares of Clearbridge Health (SGX:1H3) surged over 33% after it entered into a subscription agreement with Ong Choon Yi for the subscription of 309,500,000 shares in the company's capital for an issue price of SG$0.0031 per share and an aggregate consideration of SG$959,450.

Keppel DC REIT's (SGX:AJBU) shares were down nearly 1% at the close after its wholly owned subsidiary, Keppel DC REIT Fin. obtained a loan facility of SG$100 million.

Meanwhile, CDL Hospitality Trusts (SGX:J85) was down over 1% after it entered into an asset purchase agreement through indirect wholly-owned subsidiaries, CDL HREIT Investments Property and CDL HBT Investments Property, to acquire a freehold land comprising a purpose-built student accommodation and an adjacent vacant land.