Singapore shares remain weak as investors find no relief from euro zone’s problems, with Germany’s ban on naked short selling aggravating concerns over debt situation, according to Dow Jones.

The STI is down 1.4% at 2,803.37 midday vs low of 2,793.57 at one point, suggesting current month trough of 2,775 may be tested if selling pressure persists in coming days. Market breadth at 7 decliners for each gainer.

“I think investors have very short memories about the crisis facing global stock markets in late 2008 into 2009,” says NRA Capital chairman Kevin Scully; “I think the Greek and EU crisis will be resolved and we should see some stability back in the markets by (the third quarter).”

Says medium- to -long-term investors can bargain hunt, backed by stronger 1Q10 earnings in Singapore, although traders will “find it harder because of the low liquidity”.

All FTSE ST sub-indexes down except FTSE ST Healthcare Index, +0.3%, as Parkway Holdings (P27.SG) +0.9% at $3.41 with investors drawn by healthcare group’s defensive earnings stream. Wilmar (F34.SG) worst performer among blue chips, down 7.% at $5.76, on concerns over tax fraud allegations in Indonesia.