Singapore shares rose on Friday, despite rising global borrowing costs and fuel prices reviving inflation fears.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,665.35 and 5,716.53 throughout the day. It ended the session at 5,711.12, up 27.75 points or 0.5% compared to Thursday's close.

PC Partner up over 2%; HPL, OCBC Bank, ThaiBev, Sheng Siong up around 1%; Singtel, DBS up within 1%.

On the corporate front, MetaOptics (SGX:9MT) established a sponsored Level 1 American Depositary Receipt program in the U.S. on Friday, with the ADSs to trade on the OTCQX market.

Acrophyte Hospitality Trust (SGX:XZL) was down over 2% at the close as it said the strategic review and assessment of options remain in process, with discussions continuing with the sponsor over a potential transaction of its stapled securities.

Meanwhile, Far East Orchard (SGX:O10), through its subsidiary Borough High Street Development, signed an agreement with LDC (Portfolio) to acquire a plot of land in London for 60 million pounds.