The S&P 500 pulled back 0.2 percent to close at 2,896.72 with telecom and real estate lagging. The Nasdaq Composite dipped 0.2 percent to 8,091.25, led by a decline in Facebook shares, which counterbalanced a gain in Amazon that made it the second U.S.- company to reach $1 trillion in market cap. The Dow Jones Industrial Average slipped 12.34 points to 25,952.48 as Nike and Verizon lagged.

Nike shares fell Tuesday after the reveal of a new ad campaign for the 30th anniversary of "Just Do It," featuring former San Francisco 49ers quarterback Colin Kaepernick, who has been a polarizing figure in the sports universe ever since he decided not to stand for the national anthem during a 2016 NFL preseason football game to protest racial injustice.

Malaysian Prime Minister Mahathir Mohamad said on Tuesday foreigners can buy residential units at Johor’s controversial Forest City development but they would not be issued visas to live there.

Shell is investing in new storage capacity for output from its giant petrochemical complex on Jurong Island. The supermajor has penned an agreement with privately owned Oiltanking Singapore Chemical Storage (OTSC) for the lease on two more propylene storage tanks on Jurong Island.

In Singapore property, just five bids competed for the plot on Dairy Farm Road (highest offer by United Engineers' UED Residential, of S$368.8 million, or S$830.4 psf per GFA) and three offers submitted for the plot at Jalan Jurong Kechil (highest offer by a tie-up between COHL Singapore and CSC Land Group (Singapore), at S$215 million, or S$1,002 psf).

Separately, Hoi Hup Realty and Sunway Developments submitted the highest bid for the Canberra Link executive condominium (EC) tender for S$271 million, or S$558.22 psf.

Vehicle inspection firm Vicom has agreed to buy a six-storey warehouse from Mapletree Logistics Trust for S$22.4 million.

Satellite communications equipment provider Global Invacom has acquired Skyware Technologies Group, a designer and manufacturer of integrated transmitter and receivers for data over satellite (DOS) applications. The acquisition consists of an initial cash consideration of S$3.1 million, with a further S$0.3 million to be provided as product, and a maximum additional S$0.5 million payable on delivery of revenue related earn-out targets.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research