Singapore stocks incurred further losses on Friday, tracking regional losses amid lingering tensions in the Middle East and the continued blockade of the Strait of Hormuz by Iran, which dampened investor sentiment.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,833.14 and 4,866.75 throughout the day. It ended the session at 4,842.27, down 13.06 points or 0.3% compared to Thursday's close.

The Middle East conflict caused crude oil prices to rise, as Iran's new Supreme Leader threatened to use the Strait of Hormuz against the US and Israel.

In corporate news, shares of Avarga (SGX:X5N) surged over 13% at the close as it received a privatization offer from TKO for the acquisition of the company's entire issued and paid up shares via a scheme consideration of SG$2.7 per share in cash or a combination consideration at SG$2 per share in cash plus 1 redeemable preference share.

GS Holdings' (SGX:43A) shares were up nearly 7% as its arm, Octopus Distribution Networks, was appointed by Champagnes & Chateaux Export to exclusively distribute a range of Thienot-branded champagnes.

Meanwhile, shares of MetaOptics (SGX:9MT) were down nearly 5% even as the company said it completed the shipment of its automatic metalens tester to a partner based in Taiwan.