Singapore shares fell in the red zone on Monday as both China and the US offered conflicting statements over trade negotiations between the two states.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,797.17 and 3,821.68 throughout the day. It ended the session at 3,811.80, down 11.98 points or 0.31% compared to Friday's close.

In company news, shares of iFast (SGX:AIY) crashed nearly 12% even though the company's profit attributable to owners jumped 31% during the first quarter of the year to SG$19.0 million from SG$14.5 million a year earlier.

TOTM Technologies (SGX:42F) closed 6% higher as the company and Teneo Communications entered into a memorandum of understanding to establish a technological partnership to scale AI and big data analytics.

Meanwhile, shares of Olam (SGX:VC2) were down over 1% as its wholly owned subsidiary, olam food ingredients (ofi), secured a term loan facility of around $350 million.

Furthermore, Aster Chemicals and Energy, which now operates the Bukom refining complex, is likely to bid for Exxon Mobil's petrol stations in Singapore, according to an exclusive report by the Reuters on Friday.

STI fell 0.3%; Yangzijiang Shipbuilding rose 2.3%; ST Engineering rose 1.7%; iFAST fell 12%; UOB fell 3.7%; Keppel fell 2.6%; Nio fell 1.2%.