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Apple's China revenue fell 14.1 percent to .73 billion in its second fiscal quarter. But Yan, from Counterpoint, said the upcoming 10th anniversary edition of the iPhone will reignite Chinese consumers' enthusiasm.

Apple has said that it plans to appeal the decision. The injunction will go into effect in 30 days, unless Apple can secure a stay on it while seeking the appeal. The injunction can also be extended for one or more “one-year periods” if the judge deems such action necessary.

As Colorado, Minnesota, Mississippi and Tennessee were among the latest states to loosen restrictions, New York Governor Andrew Cuomo said he was preparing to lengthen confinement measures for badly-hit areas.

As China's capital markets and financial infrastructure evolve, investors are likely to consider alternatives to the role of Chinese equities in their broader global equity opportunity set.

As China opens the door wider for foreign investors, more high-quality Japanese institutions are welcome to launch securities services and providing more investment products for Chinese investors, according to the Asset Management Association of China.