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CCTV Script 09/06/15

—This is the script of CNBC's news report for China's CCTV on June 9, Tuesday.

Welcome to CNBC Business Daily, I'm Qian Chen.

Given the size and importance of China's equity market, the relaxation of foreign investment restrictions on A-shares is clearly one of the most important factors currently impacting global benchmark design and is top of mind among many in the investment community.

[MARTIN LAKOS, Macquarie Private Wealth Division Director] "Foreign investment accounts about 30-35% between Korea and Taiwan, and it's less than 2% in China. So you know, it's a long way to go, it's clear that not all are gonna happen in one goal. I think to some extent, I will see some point of time that the way we will see a breeze until we really have confidence in Chinese economy is bottoming out."

According to a note by Michael Orzano, Director of Global Equity Indices at S&P Dow Jones Indices, as of May 29, 2015, China represented 31% of the S&P Emerging BMI (Broad Market Index) and 3% of the S&P Global BMI.

In the past few years, the pace of new index development has increased substantially in response to demand from market participants with various levels of interest in and access to A-shares.

In November 2013, S&P DJI introduced the S&P Total China BMI, which includes both A-shares and offshore listings for those seeking a comprehensive China benchmark.

Then in November 2014, it introduced a parallel version of the S&P Emerging BMI - named the S&P Emerging BMI + China A - for use by investors seeking an emerging markets benchmark that includes A-shares.

Concurrently, S&P DJI launched a variety of key regional indices such as S&P Global BMI + China A and S&P Asia Pacific Emerging BMI + China A as well to cater to asset managers incorporating A-shares into their investment process.

[Tendai Musikavanhu, CEO, One Stone Global] "What we are seeing is that there's more representativeness being demanded by investors. I mean, you can't exclude China A shares. For example, the percentage of GDP that's listed in China has increased of last decade, from 27% to over 64%, you can't ignore this China A-share bloc because of this big part of chinese economy, and is actually more representative of Chinese economy."

FTSE Group says it will include China's stocks in two new emerging-market indexes, laying the groundwork to include the world's best-performing equities in benchmarks tracked by international money managers.

The move is transitional before the London-based index provider ultimately adds mainland shares, according to a statement released at a briefing in Hong Kong. The initial weighting in the FTSE Emerging Markets China A Inclusion Indexes will be around 5 percent and increased to 32 percent over time, it said.

Now, all eyes are on the MSCI decision.

On Tuesday, the world's largest indexing firm, MSCI, will rule whether shares in mainland China should be included in the firm's global indexing scheme, which is used by fund managers and ETF providers the world over.

[Tendai Musikavanhu, One Stone Global] "some problems with that bloc though, is very heavily skewed towards financials, and very small percentage, only 7% of that in China are actually consumer staples, what are investors actually want. So we will probably, once on the global being, people towards, indices more representative towards, marketplace towards more representative, and therefore more diversified, we'll probably work with what our clients need, and we will watch what these two indices doing for the next a couple of months."

CNBC's Qian Chen, reporting from Singapore.

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(VO - TIM COOK ON STAGE AT WWDC)

IT WAS THE MOST RADICAL CHANGE TO APPLE'S MUSIC STRATEGY IN YEARS. TODAY, AT ITS ANNUAL DEVELOPERS CONFERENCE, APPLE INTRODUCED A NEW SERVICE CALLED APPLE MUSIC.

CEO TIM COOK BROUGHT LEGENDARY MUSIC PRODUCER JIMMY IOVINE ON STAGE TO UNVEIL IT.

(SOT-IOVINE)

The revolutionary...is the one that follows it.

(VO - APPLE MUSIC)

SEARCH: SQ APPLE MUSIC in

THERE ARE THREE PARTS TO THIS NEW SERVICE: A STREAMING MUSIC COMPONENT; A 24/7<x-apple-data-detectors://11> RADIO STATION; AND A NEW FEATURE CALLED 'CONNECT' IN WHICH ARTISTS CAN UPLOAD SONGS, VIDEOS AND PHOTOS. THE COST: $9.99 PER MONTH.

(VO - SPOTIFY)

APPLE IS TAKING ON ENTRENCHED PLAYERS IN THIS SPACE. SPOTIFY, FOR INSTANCE, BOASTS OVER 60 MILLION USERS, 15 MILLION OF WHOM ARE PAYING SUBSCRIBERS. THE OPEN QUESTION IS WHETHER APPLE HAS DONE ENOUGH TO DIFFERENTIATE ITS SERVICE FROM THE COMPETITION.

(VO - COOK)

BUT MUSIC WASN'T THE ONLY BIG ANNOUNCEMENT. COOK ALSO OFFERED UPDATES TO THE MAC OPERATING SYSTEM, iOS, AND HIGHLIGHTED THE STRENGTH OF THE APP ECONOMY

(SOT FROM COOK)

The app stores has passed... distribution.

(JOSH ON CAM)

ALL THESE CHANGES ARE COMING AS APPLE'S STOCK HAS ENJOYED A STRONG RUN. IT'S UP MORE THAN 40 PERCENT SINCE THE DEVELOPER'S CONFERENCE LAST YEAR. TIME WILL TELL WHETHER TIM COOK HAS DONE ENOUGH HERE TODAY TO KEEP THE MOMENTUM GOING.

I'M JOSH LIPTON IN SAN FRANCISCO.

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