Singaporean shares closed almost flat on Monday, as investors were cautious over the possible economic impact of Hurricane Irma as it landed the Florida coast.

Hurricane Irma reported knocked out electricity to 3 million homes and businesses in Florida. U.S. Federal Reserve Bank of New York President Dudley said the hurricanes in the third quarter could temporarily influence the timing of the next interest rate hike.

Maybank Kim Eng Research said the market is off to a nervous start to the week amid mounting geopolitical tensions on the Korean Peninsula and destruction wrought by hurricanes in US.

Singapore benchmark Strait Times Index inched down 0.05 points to 3,228.51 points. Trading volume was 1.39 billion shares worth 884 million Singapore dollars. Advancers outnumbered decliners 214 to 192.

CWG International rose 3.5 percent to 14.8 Singapore cents. It successfully bid for land use rights of a land parcel at Zhangjiagang, Suzhou City in Jiangsu, China, for an undisclosed price. The 36,829-square-meter site is designated for residential development and has a plot ratio of 1.8, giving a gross floor area of 66,292 square meters. The acquisition will enable CWG to sustain its scale and presence in China but any development is not expected to complete before 2019.

TEE International fell 2.4 percent to 20 Singapore cents, while Advancer Global ended flat at 29 Singapore cents. Both companies formed strategic alliance to pursue new business opportunities to provide comprehensive solutions to customers. The collaboration will explore opportunities for joint tenders in contracts which require both mechanical and electrical engineering works and facility management services.

Among top gainers, Venture Corporation rose 1.6 percent to 15.56 Singapore dollars, while Jardine Strategic became one of the top losers by falling 0.5 percent to 44.25 U.S. dollars. (1 U.S. dollar equals to 1.34 Singapore dollars)