Singapore's shares started the week in green on Monday as the city-state's ruling party, Peoples Action Party, registered a convincing victory in Saturday's election, winning 87 out of 97 parliamentary seats

The win raised expectations over the country's stock and currency, with analysts projecting stability for businesses and investors over the next few years.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,836.70 and 3,858.97 throughout the day. It ended the session at 3,853.07, up 7.93 points or 0.21% compared to Friday's close.

In economic news, Singapore's retail sales increased 1.1% in March on a year-on-year basis, according to data released by the Department of Statistics.

In company news, Singapore-listed shares of Japan Foods (TYO:2599, SGX:5OI) were down nearly 4% at the close after the company flagged a substantial net loss for the fiscal year ended March 31.

Kingsmen Creatives (SGX:5MZ) was up over 1% after the company said that it was on the receiving end of a ransomware incident recently, but did not report any evidence of data exfiltration.

Meanwhile, CapitaLand Integrated Commercial Trust (SGX:C38U) entered into a unit purchase agreement with an unrelated third party to sell 100% of its interest in Glory SR Trust which holds the serviced residence component of CapitaSpring. It closed flat on Monday.

STI up 0.2%; Yangzijiang Shipbuilding fell 6%; Olam fell 4%; Nio fell 1.5%; SATS up 2.5%; ST Engineering up 1.4%; UOL up 1%.