Despite hopes for a US rate cut, Singapore's shares experienced losses on Tuesday, while most regional indices saw gains.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,476.23 and 4,509.14 throughout the day. It ended the session at 4,485.63, down 11.00 points or 0.2% compared to Monday's close.

In corporate news, SIA Engineering (SGX:S59) was up nearly 1% as it signed an agreement with Safran Aircraft Engines to broaden their partnership in CMF LEAP engine maintenance in Singapore.

Shares of Sunpower (SGX:5GD) were down over 5% at the close with the company naming Lin Jiankai as its group chief executive officer and executive director.

Meanwhile, shares of City Developments (SGX:C09) were largely flat, as its subsidiary, M&C Sakura TMK, agreed with real estate funds managed by Blackstone to divest the Bespoke Hotel Osaka Shinsaibashi in Japan for around 14 billion Japanese yen.