Communication services stocks rose a little over 1% at midday Tuesday after business conditions in Australia improved in December 2024, with a notable rise in retail, according to a survey by National Australia Bank.

SKY Network Television (ASX:SKT, NZE:SKT) said it is on track to migrate to a new satellite by May, adding that several critical milestones have been met in the process of migrating the current Optus D2 satellite to a new one.

On the other hand, the real estate stock plunged, shedding almost 3%. Australian data center real estate owners faced concerns about lowered spending on infrastructure in the wake of Chinese startup DeepSeek's low-cost artificial intelligence model.

US Masters Residential Property Fund (ASX:URF) said the trustees of US Masters Residential Property (USA) Fund agreed to reclassify it from its existing REIT structure to that of a taxable corporate structure for US tax purposes, effective Jan. 1. The trustees also agreed to adopt a formal plan of liquidation, expected to be completed by Dec. 31, 2028.