Singapore shares continued to trade in the positive territory on Thursday, despite US president Donald Trump's announcement that 25% tariffs will be placed on imported cars and parts.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,959.70 and 3,991.00 throughout the day. It ended the session at 3,981.57, up 17.86 points or 0.45% compared to Wednesday's close.

In company news, shares of AsiaPhos (SGX:5WV) surged over 33% after the company revealed that the Mianzhu Municipal People's Court in China has ordered the continued freezing of 7 million yuan in funds belonging to Sichuan Mianzhu Norwest Phosphate Chemical for another year until March 21, 2026.

Avarga (SGX:U09) shares were up over 2% at the close after its subsidiary, UPP Pulp and Paper entered into agreements for selling properties in Malaysia.

Meanwhile, United Overseas Bank (SGX:U11) closed 1% higher as it priced $2 billion worth of bonds due 2028 under its $30 billion global medium-term bonds program.

NIO Inc. (SGX: NIO) announced that it proposes to offer up to 118,793,300 Class A ordinary shares of the Company in offshore transactions outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act of 1933, as amended, subject to market conditions and other factors.