Singapore equities ended Friday's session in the negative territory, tracking regional losses, with investors turning cautious on news that US President, Donald Trump, was leaning toward Kevin Warsh to lead the US Federal Reserve.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,900.55 and 4,933.88 throughout the day. It ended the session at 4,905.13, down 24.90 points or 0.5% compared to Thursday's close.

Hong Leong Asia up 5.9%; Keppel DC Reit, ST Engineering, CapLand Ascott T up over 1%.

A former member of the Fed's Board of Governors, Warsh is seen as supportive of both lower interest rates and a reduction in the central bank's balance sheet, a Wilson Asset Management strategist noted.

In economic news, Total loans and advances to residents in Singapore grew to SG$886.1 billion in December 2025 from SG$873.1 billion a month earlier, with loans to business contributing SG$538.67 billion, up from SG$528.32 billion in November 2025, according to preliminary data released by the Monetary Authority of Singapore.

In corporate news, shares of Winking Studios were up over 6% at the close with the gaming studio forecasting a revenue increase of at least 40% in 2025 compared to a revenue of $31.9 million in 2024.

Keppel DC REIT's shares were up nearly 2% as its distribution per unit or DPU was up 7.1% in the second half of 2025 to SG$0.05248 from SG$0.04902 a year earlier.

Meanwhile, shares of CapitaLand Ascott Trust rose nearly 2% at the close as its distribution per stapled security, or DPS, rose 1% to SG$0.0358 in the second half of 2025, from SG$0.0355 a year earlier.