Morgan Stanley has downgraded Chinese stocks, and reduced its rating on a major index which tracks Chinese shares listed overseas and off the mainland in Hong Kong.
The investment bank cut its rating for the MSCI China to equal weight, or the same weight as the benchmark.
The MSCI China index includes large-cap and mid-cap shares that are listed domestically, as well as Hong Kong-listed stocks and foreign-listed shares like those in the U.S.
The investment bank, however, said it continued to prefer A-shares, or Chinese stocks listed on the mainland stock exchanges, as compared to offshore stocks, it wrote in a report released on Monday.
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