Singapore shares closed higher on Friday, tracking regional gains, as investors responded positively to the US Federal Reserve's decision to cut interest rates.

The Straits Times Index ranged between 4,553.09 and 4,586.45 throughout the day. It ended the session at 4,586.45, up 65.62 points or 1.5% compared to Thursday's close.

In corporate news, shares of Seatrium (SGX:5E2) were up over 2% as the company and GE Vernova were awarded a contract by TenneT to deliver a major part of BalWin5, the latter's new 2.2 gigawatt offshore grid connection.

Sembcorp Industries (SGX:U96) was up nearly 2% after it agreed to acquire Australia-based Alinta Energy from Chow Tai Fook Enterprises, an affiliate of Chow Tai Fook Jewellery Group (HKG:1929).

Meanwhile, shares of Singapore Telecommunications (SGX:Z74) were up over 2% even though the company was imposed a fine of SG$1 million by the Infocomm Media Development Authority (IMDA) of Singapore in connection with a voice disruption that occurred on Oct. 8, 2024.