Singapore stocks fell on Thursday, dragged lower by lenders such as DBS and OCBC Bank amidst caution ahead of a U.S. tax bill from Republicans later in the day.
The plan is said to include $6 trillion in tax cuts over 10 years but is unlikely to define how these would be offset as Republicans remain split over how to pay for them, Reuters reported.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, climbing to its highest levels since November 2007.
Investors are now focused on the impending appointment of the Federal Reserve chair, with speculation rife that Fed governor Jerome Powell is the favoured suitor.
At 0400 GMT, the Straits Times Index shed 0.91 percent or 31 points to 3,360. It ended 0.52 percent higher on Wednesday, taking the year-to-date performance to about 18 percent.
Overseas-Chinese Banking Corp lost 1.8 percent, United Overseas Bank dropped 1.6 percent and DBS Group Holdings fell 0.8 percent.
Media content provider mm2 Asia entered into an agreement with Cathay Organisation Pte for the purchase of Cathay Cineplexes' Singapore cinema operations for S$230 million. Shares in the company lost 2.6 percent.
Among the gainers, Frasers Logistics & Industrial Trust gained 0.9 percent after it reported an 8.6 percent rise in fourth-quarter distribution per share.
Property developer Oxley Holdings jumped about 2 percent after saying it would pay dividends of at least 25 percent of the group's consolidated profit after tax for fiscal 2018 and 2019.
About 1.2 billion shares worth S$542 million changed hands, with losers outnumbering gainers 238 to 129.