China Invests $5 Billion in Morgan Stanley

The U.S. investment bank Morgan Stanley on Wednesday reported an enormous write-down of mortgage-related assets and a $5 billion investment from China Investment Corp., which is owned by the Chinese government. That works out to a nearly 10 percent stake in the firm.

The write-down of assets totaled more than $9 billion. Morgan Stanley says its core business franchise is basically sound.

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