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CCTV Script 15/05/13

This is the script of CNBC's news report for China's CCTV on May 15, Wednesday.

Welcome to the CNBC Business Daily.

The dollar pulled back a tad against the yen on Wednesday after shooting to its highest level since October 2008. The dollar index was near lofty levels not seen since July last year.

Analysts polled by Reuters say the next key resistance for the Japanese currency is at 103.50. And some analysts say that the trend is likely to continue due to the aggressive easing from the Bank of Japan.

Here's one view.

[Sound on tape by Eisuke Sakakibara, Professor, Aoyama Gakuin University: Well, it has been a little bit fast but it will turn along 105 will go in the range of between 95 and 105.]

But with a weak yen driving up import cost, could it end up hurting economic growth?

Here's Sakakibara-san again

[Sound on tape by Eisuke Sakakibara, Professor, Aoyama Gakuin University: If the depreciation stops at around 105, it will not create a major problem for the Japanese economy.]

Meantime, then Nikkei soared above 15000-level for the first time since January 2008. The weak yen helped push up exporter stocks.

Fund managers who are betting that inflation will rise, have been pouring money into Japanese equities. The Bank of America Merrill Lynch's May fund manager survey showed that fund managers were 31 percent overweight on Japanese stocks.

And the trend has been increasing for 5 straight months. With the Bank of Japan on an aggressive easing campaign, when will we see this easy money start to flow out of the country?

[Sound on tape by Frederic Neumann, MD & Co-Head Of Asian Economics Research, HSBC: I think there are a lot of impatience in markets, investors ask me all the time, where's the money, it hasn't come yet, out of Japan. They want to get ahead of it, some of them have, now its like when is it coming? I think it's import to realize that it takes time. Its only in early April that the BOJ surprised markets with this move.]

[Sound on tape by Clem Chambers, CEO, ADVFN: We have always had a lot of Japanese traffic in forex and now as the equities have taken off we're getting a lot of equity interest in Japan. A lot of people forgotten what it's like to be in a bull market, the bear market has been so long in Japan and for that matter in Europe and America, they have gotten use to bear market business conditions, and when you get into a bull market it's like wow, they all go upside down, and everything starts to get very exciting and easy.]

Li Sixuan, from CNBC's Asia headquarters.

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