Singapore stocks edged higher for a second day on Wednesday, led by gains in ComfortDelGro on potential alliance with Uber, even as caution remained ahead of the global central bankers meeting later this week.
Asian stocks steadied, taking a breather after the previous day's surge.
MSCI's broadest index of Asia-Pacific shares outside Japan pulled back to stand little changed following a 0.7 percent rally on Tuesday.
Hong Kong's trading session was canceled for the day as a typhoon roiled the city.
Markets are focusing on the annual conference of global central bankers hosted by the Kansas City Federal Reserve Bank at Jackson Hole, Wyoming.
Fed Chair Janet Yellen and European Central Bank President Mario Draghi will be among the officials addressing the summit, which kicks off on Thursday.
At 0550 GMT, the Straits Times Index gained 0.08 percent or 3 points to 3,266. It ended 0.15 percent lower on Monday, taking the year-to-date gains to about 13 percent.
Lenders such as United Overseas Bank rose as much as 1.2 percent and DBS Group Holdings gained 0.7 percent.
Taxi operator ComfortDelGro surged as much as 11 percent on Wednesday amidst talks of a potential alliance with U.S.-based Uber Technologies.
Oil and gas explorer KrisEnergy jumped 6 percent after said it signed an agreement with Cambodian government to develop nation's first oil field in Cambodia Block A in the Gulf of Thailand.
Singapore-listed Global Logistic Properties said its unit CLF2 Singapore Pte. has acquired investment firm Hallmark International Investment for US$121.6 million. Stock was up 0.3 percent.
About 1 billion shares worth S$576 million changed hands, with gainers outnumbering losers 218 to 114.
