STI down 0.7%, or 20.87 points, at 2,911.14 by midday

Singapore shares declined to the lowest in more than a month, largely in line with regional markets, on new concerns about the Greek bailout and slower global growth, but airline stocks outperformed.

Shares of index heavyweights United Overseas Bank and Oversea-Chinese Banking Corp dropped around 1.1% each on Wednesday.

By 2:00 p.m., the Straits Times Index was down 0.7%, or 20.87 points, at 2,911.14. The index hit an intra-day low of 2,906.58, the lowest since Feb. 2.