Singapore shares fell as much as 0.3 percent before erasing all their losses to trade higher on Wednesday, tracking subdued Asian equities.
Asian shares took a breather after the indexes climbed to record highs in the previous session following a deal to end a U.S. government shutdown.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent, having jumped 1.2 percent on Tuesday to an all-time peak. Japan's Nikkei lost 0.8 percent as the yen strengthened, though that was from a 26-year top., Reuters data showed.
At 0530 GMT, the Straits Times Index was up 0.21 percent or 7 points to 3,599. It ended 0.63 percent higher on Tuesday, taking the year-to-date gains to about 6 percent.
The city-state's top lenders Oversea-Chinese Banking Corp edged up 0.1 percent, DBS Group Holdings gained 0.9 percent but United Overseas Bank dropped 0.4 percent.
Active stocks included, Midas climbing 8 percent to S$0.017 while Adventus lost 18 percent to S$0.01 in afternoon trades.
Shares in CapitaLand Mall Trust Management rose about 1 percent after reported a 0.7 percent rise in fourth-quarter distribution per unit
Noble gained 2 percent amid report China's Cedar Holdings was interested in buying the commodities trader.
About 1.2 billion shares worth S$932 million changed hands, with losers outnumbering gainers 200 to 177.