Singapore shares closed little changed on Tuesday, but Singapore Press Holdings bounced after recent steep declines.
Investors have been riled in recent weeks by looming interest rate hikes, volatile oil prices and a deteriorating security situation in the Middle East.
Dealers expect funds to move only after the US Federal Reserve's policy-setting meeting on June 29-30. The Fed is widely expected to start a tightening cycle by raising interest rates by one-quarter of a percentage point in a bid to curb inflation.
"The absence of institutions is causing the market to be very quiet. But they are not selling," said Najeeb Jarhom, director at Fraser-AMMB Research.
"The market is waiting for the Fed meeting next week.
The key Straits Times index finished down 0.07 percent, or 1.22 points, at 1,785.93, its lowest close since June 4.
Losers beat gainers 157 to 141 overall as volumes remained thin at 388 million shares but were slightly against 337 million on Monday.
Jurong Technologies Industrial Corp sank 6.3 percent to S$1.20 on market talk of the electronics parts maker losing a customer. Separately, brokerage Kim Eng recommended investors take profit on the stock due to technical factors.
Media group Singapore Press added one percent to S$4.06 after losing almost eight percent over the past week.
Bonvests Holdings rose 4.3 percent to 49 Singapore cents in thin volume of 106,000 shares after Starbucks Corp, the world's largest coffee shop chain, said on Monday it had bought its licensed operations in Singapore from partner Bonvests as part of a move to expand in Southeast Asia.
There are 35 Starbucks stores in Singapore.
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