Singapore stocks were little changed on Wednesday, as gains in lenders like OCBC Bank were offset by a decline in real estate investment trusts such as CapitaLand Mall.
Southeast Asian stock markets were largely firm as investors took heart from the Dow scaling a record closing high and as oil prices spiked overnight.
MSCI's broadest index of Asia-Pacific shares outside Japan shrugged off early sluggishness and rose 0.2 percent.
At 0520 GMT, the Straits Times Index fell 0.16 percent or 5 points to 3,329. It ended 0.45 percent lower on Tuesday, taking the year-to-date performance to about 16 percent.
Overseas-Chinese Banking Corp rose 0.4 percent, United Overseas Bank gained 1 percent and DBS Group Holdings added 0.7 percent.
Mapletree Industrial Trust advanced 1 percent after it formed a joint venture with Mapletree Investments to buy a portfolio of 14 data centres located in the U.S. for US$750 million (about S$1 billion).
Shares in Keppel Telecommunications and Transportation rose 0.3 percent after its unit Keppel Logistics launched an integrated logistics brand called UrbanFox to tap the growing popularity of e-commerce.
But Frasers Centrepoint Trust dropped 1 percent despite posting a 5.5 percent in fourth-quarter distribution per unit, as higher rental income and improved occupancy at Northpoint City contributed to growth.
About 986 million shares worth S$587 million changed hands, with gainers outnumbering losers 215 to 151.