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"By relying on a monetary fine to deter Facebook, the FTC has failed to heed history's lessons. Facebook has already written this penalty down as a one-time-cost in return for the extraordinary profits reaped from a decade of data misuse," said Blumenthal.

"Changes in the external environment may weigh on the market in the short term, but may also help the market bottom out and augur well over this autumn," Chen said.

"China is expected to grow in the next quarter, as Oppo, Vivo and Huawei have launched new flagship devices with the aim of exciting the market once again," Jia said.

"China has made a lot of progress, especially in the last 10 years. It's unfortunate that 'trade war' brings a lot of attention to the negative areas of the relationship, but the IP system in China is a positive area," said Robert Merges, a law professor at University of California, Berkeley and co-director of the Berkeley Center for Law and Technology.

"China makes the high-road call for 'matters of principle' and directly addresses what is reported to be the prime area of disagreement: enforcement," he said. "China asserts that if a trade agreement is reached, it will honor its commitments sincerely and faithfully."