Roper's (ROP) sale of the TransCore business will likely enable it to focus on and efficiently direct resources to the recurring revenue businesses.
Most emerging currencies in Asia lacked direction on Monday as worries grew over property developer China Evergrande's debt crisis, while shares in Singapore and Indonesia outperformed regional peers. News that China Evergrande shares were suspended on Monday after the company missed a key interest payment on an offshore bond for the second time last week kept a lid on Asian currency gains.
Asia's emerging currencies traded in tight ranges on Monday as investors worried about China's property sector and the timing of Federal Reserve tapering, while shares in Singapore and Indonesia outperformed. Shares in Singapore gained more than 1%, buoyed by gains in Singapore Technologies Engineering after it agreed to buy Roper Technologies Inc's TransCore business for $2.68 billion.