Morgan Stanley president Kelleher says China 'is just fine'

Wed Jan 27, 2016 6:29am EST
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DUBLIN (Reuters) - China is "just fine" and the recent worries about its economy was just an excuse to sell the market off after a good run, Morgan Stanley (MS.N: Quote) President Colm Kelleher said on Wednesday.

"I think there's no new news here, emerging markets will not grow, we know that. Developed markets are carrying the growth, particularly in the U.S. and we are of the view that China is just fine, 6.9 percent growth is okay and we believe those numbers broadly," Kelleher told a conference in Dublin.

Kelleher also reiterated his view that London would "undoubtedly suffer" if Britain voted to leave the European Union at a forthcoming referendum, though he said it would remain an international financial center regardless and that Morgan Stanley were "certainly not contingency planning".

(Reporting by Padraic Halpin; Editing by Alison Williams)

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in the Manhattan borough of New York City, January 20, 2015.  UTERS/Mike Segar