Communication services stocks advanced nearly 1% at midday Wednesday.
Telstra Group (ASX:TLS) gained 2% in recent trade after releasing the findings of an external expert investigation into its July mobile network outage, confirming the company's previous conclusion that the incident was triggered by a technical issue.
On the flip side, the information technology sector struggled, shedding more than 3%.
Xero (ASX:XRO) shares fell nearly 3% in recent trade.
Amlogic (Shanghai) (SHA:688099) received approval from the China Securities Regulatory Commission for its secondary share offering on the Hong Kong Stock Exchange, according to a Tuesday filing with the Shanghai bourse.The fabless semiconductor company is approved to issue up to 53.8 million H-shares, according to the filing.
Semiconductor giant Nvidia agreed to invest $3.5 billion in Taiwanese chipmaker MediaTek (TPE:2454) through the subscription of convertible bonds, according to a Monday statement.MediaTek shares jumped 10% in Tuesday's trade.The move is aimed at deepening a partnership between Nvidia and MediaTek. Under the expanded agreement, MediaTek will adopt Nvidia's NVLink Fusion platform, designed to help hyperscalers, cloud providers, and AI model developers build custom accelerator chips that connect into Nvidia's rack-scale data center systems.The pact also entails enhancing existing collaboration on Nvidia RTX Spark and DGX Spark chips for consumer and enterprise PCs, as well as AI-powered automotive platforms built around MediaTek's Dimensity Auto line.
Mapletree Industrial Trust (SGX:ME8U) clarified that there is no certainty that a transaction will materialize following media reports about a potential divestment of its US data center assets.The trust said it regularly reviews its portfolio to optimize asset performance, unlock value and recycle capital.Mapletree Industrial Trust is pursuing selective divestments in North America under its portfolio rejuvenation efforts, and continues to evaluate opportunities aligned with the strategy.Any material developments will be announced on SGXNET, it said.