Singapore shares retreated from 2-week highs to finish lower on Friday on worries over the impact of China's rate hike and caution ahead of results from blue chips such as United Overseas Bank and CapitaLand.
China's rate move, which analysts said was aimed at slowing economic growth, hit shippers such as Cosco Corp (Singapore) Ltd Cosco, the Singapore-listed arm of China Ocean Shipping (Group) Co, fell 2.8 percent to S$1.05.
The Straits Times Index ended down 7.36 points, or 0.37 percent, at 1,980.69 points. In the broader market, losers led gainers 247 to 104 in brisk volume of 647 million shares.
China's central bank on Thursday announced a rise in its benchmark one-year yuan lending rate to 5.58 percent, from 5.31 percent.
Debutant Zhonghui Holdings Ltd, a provider of turnkey services of domestic waste management systems, opened at 30 Singapore cents and rose as high as 41.5 cents, before ending at 40.5. Its initial public offer price was 22 cents.