Singapore shares surged more than 1% at the close on Monday, as other regional indices responded well to Donald Trump's decision to exclude tech-based products from his new reciprocal tariffs for the time being.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,548.91 and 3,592.68 throughout the day. It ended the session at 3,548.91, up 36.38 points or 1.04% compared to Friday's close.

In economic news, Singapore's economy grew 3.8% year over year in the first quarter of 2025, according to advance estimates published by the Singapore's Ministry of Trade and Industry.

Meanwhile, the Monetary Authority of Singapore (MAS) has decided to reduce its policy as the city-state prepares to face the implications of US President Donald Trump's imposition of tariffs, according to an MAS statement.

In company news, shares of Grand Venture Technology (SGX:JLB) surged nearly 12% at the close as the company reaffirmed its growth outlook despite a majority of the region's companies bracing for significant implications from US President Donald Trump's tariffs on regional partners.

Olam Group (SGX:VC2) was up nearly 5% after the company said that it will divest assets from its remaining businesses as part of an updated reorganization plan.

Meanwhile, Q & M Dental (SGX:QC7) completed the acquisition of the remaining 51% stake in EM2AI from EM2AI Professional HoldCo. Its shares closed flat.