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Alarm louder as Morgan Stanley ends bullish bet

BNP Paribas also sells HK-listed Chinese shares on concern about ballooning mainland margin debt

Chinese investors are borrowing record amounts to plow into equities. The outstanding balance of margin debt on the Shanghai exchange climbed to an all-time high of 1.24 trillion yuan on Tuesday.

Hong Kong

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