Singapore shares closed slightly lower Thursday, following news that the European Central Bank had stopped providing liquidity to some Greek banks as they have not been successfully recapitalized, adding to fears that Greece would leave the Euro-zone.

Greece on Wednesday put a senior judge in charge of an emergency government to lead the nation to its second election in just over a month on June 17, which will likely determine whether it remains in the common currency area

The head of the World Bank warned on Wednesday that a decision by Greece to leave Europe's common currency zone would raise big questions about the impact on Spain, Italy and other Euro-zone countries with big debt loads that are undergoing structural reforms.

OCBC Investment Research said "we may potentially see some bargain hunting but it is not going to be strong, and people will probably continue to sell on any spikes."

UOB Kay Hian Research said the number of poorer-than-expected results was one of the highest since 2009, with 38 percent of the results in the quarter from January to March coming in below market expectations versus 31 percent in the previous quarter, thus the research house concluded that the Straits Times Index will "range trade until there is more earnings clarity and when the dust settles on the external outlook."

Singapore's benchmark Straits Times Index inched down 8.54 points to 2,822.61 points. Trading volume was 1.2 billion shares worth 1.04 billion Singapore dollars. Decliners outnumbered advancers 194 to 159, while 426 stocks did not move.

Equation Corp gained 5 percent to 2.1 Singapore cents. It proposed a renounceable and non-underwritten rights issue of up to 1,515.3 million new shares at an issue price of 1.2 Singapore cents each, on the basis of one Rights Share for every two existing Shares held. The Issue Price represents a discount of approximately 45.5 percent to the last closing price. The group intends to utilize the estimated net proceeds of about 12.9 million Singapore dollars for repayment of loans and for the group' s general working capital.

Singapore Airlines rose 1.6 percent to 10.50 Singapore dollars. The world's second-largest carrier said it will suspend services to Abu Dhabi and Athens from October 26 due to weak demand.

Technics Oil & Gas dropped 0.5 percent to 91 Singapore cents. It said it had agreed to acquire Vietnam Offshore Fabrication & Engineering, which it said has the biggest fabrication and engineering complex in Southern Vietnam, for a maximum of 10 million Singapore dollars.

Among top gainers, City Development rose 1.3 percent to 10.18 Singapore dollars, while STXPO became one of the top losers by sinking 12.9 percent to 5.40 Singapore dollars. (1 U.S. dollar equals to 1.26 Singapore dollars)