Morgan Stanley president Kelleher says China 'is just fine'

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 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.