Singapore shares incurred losses on Friday, plummeting nearly 1% to end the week in red, in a reaction to declining expectations from the US Federal Reserve of cutting down interest rates.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,461.14 and 4,494.58 throughout the day. It ended the session at 4,469.14, down 42.73 points or nearly 1% compared to Thursday's close.

Sembcorp, CityDev down over 3%; Genting Sing, ST Engineering, ComfortDelGro down over 2%; iFast, Keppel, Singtel down over 1%.

In economic news, Singapore is expecting a cooling of its economic activity during 2026 as global demand is likely to be affected due to US tariffs, according to the Ministry of Trade and Industry's Economic Survey of Singapore Third Quarter 2025 report.

In corporate news, shares of Net Pacific Financial (SGX:5QY) were down nearly 6% at the close, with the company expecting to book a higher consolidated net loss for the fiscal first quarter ended Sept. 30.

Addvalue Technologies (SGX:A31) closed nearly 7%, as it received notices from the holders of its convertible loan bonds exercising the right to convert around 3.5 million bonds worth around SG$45,000 into 3.5 million shares at SG$0.013 per bond.

Meanwhile, IREIT Global (SGX:UD1U) slipped nearly 2%, as it booked a committed portfolio occupancy of 89% in Q3, slightly down from 89.5% in the previous quarter.