Singapore shares slipped into the red on Friday, mirroring a slump across the Asian markets as their latest rally ran out of legs, amid strong US jobs data that dented investors' expectations for interest rate cuts.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,238.15 and 4,265.00 throughout the day. It ended the session at 4,261.06, down 11.99 points or 0.28% compared to Thursday's close.

In economic news, Singapore's manufacturing output increased 8% year-on-year in June, backed by increased output from most of the clusters, according to data from EDB Singapore.

Meanwhile, Singapore's overall private residential price index was up 1% in the second quarter of the year, similar to a 0.8% increase in the previous quarter, according to data released by the Urban Redevelopment Authority.

In company news, shares of Union Steel (SGX:ZB9) surged nearly 6% at the close as it entered into a partnership with COSCO Shipping Marine Engineering (Singapore) and China Offshore Engineering Solutions.

Keppel DC REIT's (SGX:AJBU) shares were up nearly 3% as the REIT's distribution per unit or DPU was up 13% during the first half of the year to SG$0.0513 from SG$0.0455 a year earlier.

Meanwhile, shares of Q & M Dental Group (Singapore) (SGX:QC7) were down over 1% as it entered into agreements to acquire three dental businesses.