Singapore shares started the week in red on Monday, tracking losses across the region, as precious metals slumped, prompting broad selling in the markets.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,861.82 and 4,927.43 throughout the day. It ended the session at 4,892.27, down 12.86 points or 0.3% compared to Friday's close.

Market analysts have attributed the recent slump in precious metals prices to global economic uncertainty and shifting expectations around the US monetary policy.

In economic news, Businesses across Singapore have a positive outlook for the first half of the year, with around 15% of firms expressing optimism about business conditions, according to data released by the Singapore Department of Statistics.

In corporate news, shares of Rex International (SGX:5WH) were down over 5% at the close after its subsidiary, Lime Petroleum, made a discovery in the Knockando Fensfjord prospect in the Brage Field.

AcroMeta (SGX:43F) was up over 4% as the engineering company targeted to raise SG$1 million after agreeing to a subscription agreement with a subscriber.

Meanwhile, AJJ Medtech (SGX:584) unveiled a strategic partnership with China-based Huaxi Intelligent Technology for a medical-grade multifunctional humanoid eldercare robot.