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Morgan Stanley downgrades China’s big four banks on fresh concerns over bad loans

Morgan Stanley has downgraded its recommendations on shares of China's big-four state-owned commercial banks, a move prompted by fresh concerns on bad loans due to Beijing's resumption of less commercially viable credit policy.

Shanghai- and Hong Kong-listed shares of Bank of China and Agricultural Bank of China, as well as A-shares of Industrial and Commercial Bank of China and China Construction Bank were downgraded . . .

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