Singapore's stock market closed in negative territory on Monday, mirroring a broader trend of losses in global markets.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,790.75 and 3,806.06 throughout the day. It ended the session at 3,796.71, down 7.55 points or 0.2% compared to Friday's close.

The downturn comes on the heels of the Monetary Authority of Singapore (MAS) easing its monetary policy for the first time in nearly five years. The MAS reduced the slope of the S$NEER policy band "slightly" in response to a faster-than-expected decline in core inflation below the 2% target. This adjustment aims to maintain price stability while supporting economic growth, according to ING Bank analyst Deepali Bhargava.

Japfa up 15%; NIO up 2.6%; Keppel DC Reit down 7.9%.

The Singaporean economy, which experienced strong growth and inflation in 2024, is now projected to slow down in the second half of this year. This slowdown is attributed to weaker global and export growth, Bhargava added in a research note.

In company news, shares of SLB Development surged over 33% after the property developer received a privatization offer from the board of directors of Lian Beng Group.

AcroMeta surged nearly 17% after it signed a non-binding memorandum of understanding to acquire a 60% stake in Malaysia-based Inadel, which owns rights to a sand concession area.

Meanwhile, shares of MTQ were up over 4% at the close after it entered into a sale and purchase agreement with Sidi Investment Holdings for the disposal of its subsidiary, Pemac, for an aggregate consideration of SG$5.5 million.