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Chinese stocks received a downgrade for the first time in over seven years from Morgan Stanley (MS), which cut its MSCI China Index rating to equal weight from overweight, noting a “worsening technically overbought situation” and a lack of improvement in earnings growth. But many top Chinese techs, including Alibaba (BABA), shrugged off the news or even rallied. The move follows two straight days of losses for the Shanghai Composite Index that Scalper1 News
Scalper1 News