Morgan Stanley analyst Robert Lin and his team has downgraded their Industry View on the Chinese Internet sector to In-Line from Attractive, saying that near-term stock outperformance in the group is likely to be limited in the near-term following their strong performance since September. Nevertheless, the team sees selective opportunites in the space, upgrading Weibo (WB) to Overweight, citing expectations for steady margin expansion in 2016. The firm also upgraded JD.com (JD) to Overweight and downgraded Vipshop (VIPS) as part of the industry note.