Last week, we watched Asia come to the reality of Evergrande's fall, which is dragging Asian markets. In the US, investors grapple with anticipation as the US Central Bank Tapering process approaches its end mid next year, and Nike takes a blow from Vietnam's shutdown. Locally, NSE giants bowed down slightly, and the indices went blood red.
Listen to this episode to learn how Asia is fairing after Evergrande defaulted its payments to offshore investors, why Nike cut its revenue forecasts as Vietnam and Indonesian closures affect supply, and how a dip in the giant stocks on the NSE is affecting the overall performance of the exchange. 
Highlights:
The impact of the current financial crisis is slowly biting China and Asia after Evergrande defaulted on payments for offshore investors, estimated at $83 billion in interest payments. Evergrande's YTD performance is down 83%. Global markets closed on a positive edge. The Dow Jones was up 0.6% at 34.798 points, while the S&P 500 rose 0.05% closing at 4455 points. The Nasdaq was flat 0.001% ending the week at 15.048 basis points.  Nike is bracing for shortages and trims revenue forecast as Vietnam shutdowns, costing the company 10 weeks of production. Safaricom, Equity, EABL, and KCB took a dip on the NSE. The NSE All-share index (NASI) decreased by 2.7% to close the week at 177.81 points from last week's 182.75 points. Similarly, the NSE25 and the NSE20 share indices were similarly down by 2.41% and 1.05%, respectively. Ghana's benchmark index fell 4.1% last week. Similarly, Egypt fell, eroding its YTD gains.


Listen to previous episodes of the Weekly Markets Update on the Hisa App available on the App Store and Google Playstore.
This episode features:
Felix Ochieng - Chief Financial Analyst, Hisa
Audio Production by Mwakaneno Gakweli.

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