China hits out at Morgan Stanley, SocGen, Nomura, UBS

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Morgan Stanley now has new critic: the Chinese government.

MarketWatch reports that the People’s Daily, the official newspaper of China’s Communist Party, carried a commentary Monday criticizing those who have “talked down” the outlook for China’s real-estate market as having 'ulterior motives'.

'The real-estate market has simply entered a normal correction phase', the state-run newspaper said. 'We should watch out for real motives of those who have voiced their bearish views loudly — disrupting the market, misleading the policy makers, and fulfilling their own selfish desires'.

The article then went on to list those “talkers”, which included Morgan Stanley, Société Générale, Nomura, and UBS.

To access the complete MarketWatch article hit the link below:

China Slams Morgan Stanley, UBS, others

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