Singapore shares rallied on Monday, surging more than 1.20%, despite opening the session lower as lackluster US jobs growth signaled a slowing economy.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,441.84 and 3,501.04 throughout the day. It ended the session at 3,496.53, up 42.06 points or 1.22% compared to Friday's close.

In economic news, Singapore's foreign exchange reserves fell to SG$501.28 billion in August from SG$506.43 billion in July, according to preliminary data from the Monetary Authority of Singapore.

In company news, shares of CSC Holdings (SGX:C06) surged 29% after the geotechnical engineering specialist secured contracts worth more than SG$150 million since the start of its financial year on April 1, taking the company's order book to SG$320 million.

Centurion (SGX:OU8) was down nearly 1% after its indirect wholly owned subsidiary, Centurion China Investments, entered into a cooperative framework agreement with Xiamen City Home Apartment Management to establish two joint venture companies.

Meanwhile, shares of Oxley Holdings (SGX:5UX) were up over 1% after the company bought back 5,000 shares in the open market for SG$419, or SG$0.075 apiece.

OCBC rose 2.5%, DBS rose 1.8%, UOB rose 1.4%, Nio rose 1%; Seatrium fell 1.3%, Yoma Strategic fell 1.1%.