By using incompressible single-fluid equations with a generalized Ohm’s law neglecting the electron inertia, a linear eigenmode equation for a magnetic field perturbation is derived for stationary equilibria in a slab geometry with velocity and magnetic shears. The general eigenmode equation contains a fourth-order derivative of the perturbation in the highest order and contains Alfvén and whistler mode components for a homogeneous plasma. The ratio of the characteristic ion inertia length to the characteristic inhomogeneity scale length is chosen as a small parameter for expansion. Neglecting whistler mode in the lowest order, the eigenmode equation becomes a second-order differential equation similar to the ideal magnetohydrodynamic eigenmode equation except for the fact that the unperturbed perpendicular velocity contains both electric and ion diamagnetic drifts. A sufficient condition for stability against the Kelvin–Helmholtz instability driven by shear in the ion diamagnetic drift velocity is derived and then applied to tokamaks.