Singapore shares closed the week on a high, despite mixed regional fortunes, as US president, Donald Trump, deciding to hold off on targeting Iranian energy infrastructure for ten days.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,857.70 and 4,927.01 throughout the day. It ended the session at 4,898.18, up 10.42 points or 0.2% compared to Thursday's close.

Global markets remain rattled by the war, with the governments across Asia-Pacific declaring an emergency economic response due to dwindling petroleum supply.

In economic news, Singapore's Export Price Index fell 4.3% year on year in February, following a 6% decrease in the preceding month, as the Non-Oil Index slipped 2.0%, while the Oil Index dropped 14.1% on year during the month, the city-state's Department of Statistics said.

Singapore's manufacturing prices continued to decline in February, albeit at a softer pace than the previous month, the city-state's Department of Statistics reported.

On the corporate front, shares of Winking Studios (SGX:WKS) closed nearly 9% higher as the game developer signed a share purchase agreement to acquire Canada-based Studios Ampera for CA$525,100 in cash and a deferred issuance of 10 million new shares in the company.

Lendlease Global Commercial REIT (SGX:JYEU) was up nearly 2% as it completed the acquisition of a 30% stake in Singapore's PLQ Mall.

Meanwhile, shares of Penguin International (SGX:BTM) closed nearly 1% higher as the ship builder established a shipbuilding and repair operation company in Indonesia named Maju Batam Shipyard.