SGX Logo. Reuters

Singapore stocks were little changed on Monday, led by lenders such as United Overseas Bank but sentiment was cautious on account of mixed Asian equities.

Equities in Asia put in a mixed start to the week as investors seek fresh catalysts after last week's run to record highs.

The pound slipped in early trading amidst reports that 40 members of parliament from British Prime Minister May's Conservative Party have agreed to sign a letter of no-confidence in her, almost enough to trigger a leadership challenge.

At 0340 GMT, the Straits Times Index edged up 0.07 percent or 3 points to 3,422. It ended 0.11 percent lower on Friday, taking the year-to-date performance to about 19 percent.

United Overseas Bank gained 0.5 percent, Oversea-Chinese Bank added 0.2 percent but DBS Group Holdings lost 0.5 percent.

Jardine Cycle & Carriage, a retailer of motor vehicles, parts and accessories, edged up 0.1 percent after its unit agreed to buy a stake of 5.53 percent in Vietnam Dairy Products Joint Stock Co (Vinamilk) for US$616.6 million in cash.

Taxi operator ComfortDelGro advanced 2.5 percent despite reporting an 8.2 percent fall in third-quarter profit, hurt by increased competition from rivals.

Malaysian property developer Aspen Group Holdings, which listed on the SGX earlier this year, gained 2.4 percent after it reported a surge in third-quarter profit, powered by higher revenue from ongoing property development projects .

About 856 million shares worth S$467 million changed hands, with gainers outnumbering losers 192 to 164.