Singapore shares retreated on Monday, tracking losses in the regional markets, to start the week in red, despite growing optimism over the possibility of US and Singapore finding common ground over tariffs.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,873.89 and 3,903.16 throughout the day. It ended the session at 3,876.20, down 21.67 points or 0.56% compared to Friday's close.

In company news, shares of Grand Banks Yachts (SGX:G50) were down nearly 7% at the close, as the company's net profit for the third quarter of fiscal 2025 plunged 42% to SG$2.3 million from SG$4.0 million a year earlier.

Yanlord Land Group's (SGX:Z25) shares were down over 3% after Moody's Ratings downgraded the company's corporate family rating to B2 from B1 and its backed senior unsecured rating on the bonds issued by Yanlord Land (HK) to B3 from B1.

Meanwhile, shares of Jumbo Group (SGX:42R) were down nearly 2%, as its wholly owned subsidiary, Jumbo Group of Restaurants, entered into a shareholders' agreement with Si Jin Min Fu to establish a joint venture in Singapore to operate a Peking roast duck-themed restaurant.

SIA rose 1.2%; Nio fell 3%; Yoma Strategic fell 2.5%; YZJ Shipbldg fell 1.8%; Keppel, SingPost, Seatrium fell 1%.