WINNIPEG -- A 17-year-old male is accused of breaking into a home and repeatedly stabbing a young man early Tuesday after the pair got into an earlier altercation at a high school grad.

Police said the victim, an 18-year-old man, was asleep in his bed when he was attacked by a knife-wielding male.

The man was in stable condition in hospital yesterday, while the suspect, who is charged with attempted murder and other offences, is in custody at the Manitoba Youth Centre.

The suspect's name was not released because he is under 18.

Const. Jacqueline Chaput, a spokeswoman, said the suspect and victim have known each other for years.

Police would not reveal what the dispute was about.

It occurred earlier in the night during Sisler High School's graduation dinner and dance at The Fairmont hotel in downtown Winnipeg, a source said.

The suspect allegedly broke into the victim's family's home, in the first 100 block of Sanderson Avenue in the Tyndall Park area, on Wednesday at 3 a.m. Police said the victim was stabbed several times in the midsection and upper body, and called out to other family members for help.

They dialled 911 but the suspect fled before officers arrived, police said. The victim was taken to hospital in unstable condition but was stabilized by medical staff.

Police said a suspect was arrested by the major crimes unit Wednesday, shortly before 5:30 p.m.

In addition to attempted murder, the 17-year-old is charged with possession of a weapon for a dangerous purpose, and break and enter, police said.