Singapore shares closed marginally higher on Monday, tracking regional gains as investors look forward to US-China trade talks scheduled later in the day with the aim to ease tensions between the two states.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,930.76 and 3,945.92 throughout the day. It ended the session at 3,936.32, up 2.03 points or 0.05% compared to Friday's close.

HPL up 1.8%; SIA Engineering up 1%; DBS Group up 0.8%; Cromwell Reit SGD down 2.5%; CityDev down 1.1%; Singtel down 0.8%.

In economic news, Singapore's official foreign exchange reserves increased to SG$518.1 billion in May, from SG$508.2 billion in the preceding month, data from the Monetary Authority of Singapore showed.

In company news, shares of OxPay Financial (SGX:TVV) were up over 5% at the close with the company appointing Chin Mun Chung as the company's chief executive officer, effective June 6.

Mermaid Maritime Public Company (SGX:DU4) was up over 5% after the company received a written confirmation from its controlling shareholder, Thoresen Thai Agencies Public Company, for the subscription of 470,233,149 rights shares.

Meanwhile, shares of Oiltek International (SGX:HQU) were down nearly 5% at the close with the company making its debut on the mainboard of the Singapore Exchange Securities.