Singapore shares little changed in thin trading

SINGAPORE (Reuters) - Singapore stocks were little changed in thin trading on Tuesday, reflecting sentiment in the broader Asian market, as investors chose to remain on the sidelines in the absence of any major catalyst.

The benchmark Straits Times Index was almost flat at 3,263.66 by midday, while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.08 per cent.

Analysts said investors refrained from taking additional positions following the first-quarter earnings season, though CIMB analyst Kuan Yee singled out transport operators SMRT and ComfortDelGro as stocks to watch amid talks of a review of rail financing as the Singapore parliament convenes.

Shares of ComfortDelGro were up 0.9 per cent at $2.33, while SMRT added 4.1 per cent at $1.39. ComfortDelGro and SMRT have gained 10 per cent and 13.5 per cent, respectively, this month against the Singapore index's 0.1 per cent loss.

Losses were led by Wilmar International, which erased the previous day's gain to fall 1.24 per cent to an intra-day low of $3.19.

Wilmar and its partner First Pacific Co said on Friday their bid for a joint takeover of Australian bread and dairy company Goodman Fielder had been recommended by Goodman's board of directors.