Stocks to Watch on Wednesday | Lianhe Zaobao

Concerns about the artificial intelligence bubble continue to escalate, with the three major U.S. stock indices all declining on Tuesday (November 18), where the Nasdaq index fell by 1.21%; the Dow Jones Industrial Average and the S&P 500 index dropped by 1.07% and 0.83%, respectively. U.S. tech or AI giants generally faced selling pressure, with Amazon and Advanced Micro Devices (AMD) both experiencing declines of over 4% on Tuesday; Nvidia and Microsoft fell by more than 2%. Sam Stovall, Chief Investment Strategist at CFRA Research, pointed out that if the top companies in the AI sector, especially Nvidia, report earnings that exceed market expectations, it would significantly alleviate market tensions. On the other hand, investors are also closely watching the non-farm payroll report for September, which will be released this week, as it will impact the monetary policy of the U.S. Federal Reserve on December 10. Turning to the Singapore stock market, the Straits Times Index also faced selling pressure on Tuesday, dropping 0.86% or 38.92 points, closing at 4504.67 points. Here are some stocks to watch on Wednesday (19th): Yangzijiang Maritime Development, which was listed on Tuesday, saw its stock price reach a high of SGD 0.71 on the same day, 18% higher than the issue price of SGD 0.60. By the close on Tuesday, Yangzijiang Maritime had given back some of its gains, closing at SGD 0.67, nearly 12% above the issue price. Extended Reading Global markets continue to face selling pressure, with the Straits Times Index dropping another 38.92 points Yangzijiang Maritime is a spin-off of the shipping segment of Yangzijiang Financial Holdings, which raised at least SGD 5.2 million through private placement in this listing, issuing approximately 8.6 million ordinary shares at a price of SGD 0.60 each. Rex International Holding announced before the market opened on Wednesday that it has provided an update on drilling operations at the Sèmè oil field in Benin, West Africa. The company stated that drilling operations are facing some technical issues, and remedial measures are currently being taken to address the problems, resulting in a delay of the original operational plan Despite this, Rex International Holdings remains confident in starting production by the end of December this year. The company's stock fell 2.99% to HKD 0.16 on Tuesday. Coliwoo Holdings stated on Tuesday that, based on unaudited performance, the group's pre-tax profit for the fiscal year 2025 is expected to be lower than that of the fiscal year 2024. Pre-tax profit excluding fair value changes is expected to improve, and the company will announce the performance report for the fiscal year 2025 in due course. Coliwoo Holdings' stock price remained flat at HKD 0.56 on Tuesday. Stamford Tyres announced the signing of a strategic cooperation memorandum with Malaysian rubber product manufacturer GIIB Rubber Compound. GIIB will provide the company with advanced and sustainable tire retreading materials, including regenerated rubber compounds and environmentally friendly tread rubber. The company will integrate these green products into its supply chain, retreading business, and distribution network. The company pointed out that recycling is a key pillar of Singapore's sustainability agenda, and tire retreading plays an important role in reducing landfill waste and extending product lifespan. Through collaboration with GIIB, the company aims to create durable green tires that can outperform traditional tires. Stamford Tyres' stock price fell 4.76% to HKD 0.20 on Tuesday