The local market fared better than many of its regional peers as investors kept trade tensions and interest rate concerns at bay.
The low-key mood did not give the Straits Times Index (STI) much direction, leaving it up just 10.96 points or 0.3 per cent at 3,340.42.
Markets in Australia, Hong Kong and South Korea followed suit, but China, Japan and Malaysia fell.
A trader said the mood in Asia "was caught between being anxious ahead of Federal Reserve chairman Jerome Powell's testimony and measured optimism that the US and China are back in trade talks".
IG market strategist Pan Jingyi said caution saw most of the early gains erased by the end of the day.
Trading volume came in at 1.22 billion shares worth $973.2 million, with gainers pipping losers 193:188.
ThaiBev added 1.15 per cent to 88 cents on trade of 24.8 million, the most active among index components for the second day running.
The local banks all rose. DBS gained 0.3 per cent to $25.40, OCBC added 0.7 per cent to $11.48 and UOB put on 0.7 per cent to $26.41.
ComfortDelGro fell 0.7 per cent to $2.82 on trade of 10.8 million.
Investors have taken interest after the Government said on Monday it will review how fares are set.
Until the review is completed, a temporary grant will be provided to rail operators. Hopes that fare hikes may be on the cards sent ComfortDelGro up 2.5 per cent on Tuesday.
Its stock has gained about 31 per cent over the past year, or 35 per cent if dividends are included.
That said, KGI Securities downgraded the stock to "neutral" on its valuations being "stretched". It said ComfortDelGro's dividend yield for the past year has compressed to 3.7 per cent, "which is among the lowest in our high-dividend watch list".
Maybank Kim Eng analyst Luis Hilado, who has a "hold" on ComfortDelGro with a target price of $2.76, believes the market "will view the grants as recurring rather than exceptional items".
UOB Kay Hian analyst Lucas Teng is the most bullish, with a "buy" call and a target of $3.08.
"The temporary grant for rail could lift the loss-making Downtown Line while a private hire licensing law could further diminish competition," he said.
Mainboard-listed Cordlife Group was one of the most actively traded, surging 16.5 per cent to 60 cents on 35.2 million shares traded. Most of the volume was down to three married trades totalling 33.8 million shares. The Singapore Exchange queried the cord blood bank firm over the "unusual price movements".
