Debt cloud looms over mainland bourses

Forecasters say capital market has gone 'too far, too fast' and warn of risks, reports Bloomberg.

Add Morgan Stanley and BNP Paribas Investment Partners to the list of forecasters sounding an alarm about China's stock market.

Jonathan Garner, the chief Asia and emerging market strategist at Morgan Stanley, downgraded Chinese stocks for the first time in more than seven years on Thursday, citing the weakest corporate profits since 2009.