This is the script of CNBC's news report for China's CCTV on May 8, Wednesday.
Welcome to the CNBC Business Daily.
The Dow closed above the 15,000 mark for the first time, with the S&P 500 ending at another record high on Tuesday.
Upbeat industrial data out of Germany fueled gains. Europe's largest economy reported a 2.2 percent increase in industrial orders in March, compared with expectations for a drop of 0.5 percent.
Have a listen to some views from our guest on the big run up in stocks.
[Sound on tape by Gene Peroni, SVP & Portfolio Manager, Advisors Asset Management: No doubt the Fed has played a very significant role here. And if there was no sign that it was economically viable then I would say yes, we would really be in a pretty dire situation. But the fact of the matter is the economy is really improving in a number of diff areas. The housing market is surely showing strength here in many different regions of the country.]
[Sound on tape by David Roche, Global Strategist, Independent Strategy: When money is driving things, the money is driving sheep and all the sheep are investing in the same things.]
[Sound on tape by David Roche, Global Strategist, Independent Strategy: The downturn in growth we seeing now - PMIs back around 50, 51 - temporary. There's enough purchasing power in world, enough money in world to keep this going. At a low rate of growth, but a low rate of growth so I'm in equities, globally.]
But with investors pouring in money in to stocks, have valuations become too expensive?
[Sound on tape by Andy Cross, CIO, Motley Fool: Valuations have gotten a little bit stretched, and these stocks now are at an all time high. The stocks are up more than 20% over the past year, and really up 15-16% for this year alone. So we've really had a nice run, that has stretched valuations, but when you think about your alternatives, where else you could be investing your capital, I think stocks still remain the number one place to invest.]
The rally stateside fueled gains in Asia with the Nikkei hitting a fresh 5 year high in early trade.
A strong US jobs report last week, helped ease concerns over the health of Japan's major export market.
In April, net buying of stocks by foreign investors reached 2.68 trillion yen, that's the highest monthly level in almost 31 years.
And our next guest says that the Nikkei could easily surge to the 17000 -19000 level.
[Sound on tape by Ed Rogers, CEO & CIO, Rogers Investment Advisors: One, the LDP is going to win the upper house election in July outright. Two, we are going to start turning on nuclear reactors again in Japan and our current account and balance of payments are going to get much better, as Japan moves back towards energy self-sufficiency. Three, in the fourth quarter, everyone in the world who were underweight or "zero-weight" Japan - and that's still most investors - is going to be scrambling to put on a little bit of window dressing. I am talking about the large mutual funds that are essentially index trackers, they are completely underweight Japan, they going to have to get Japanese exposure by the end of this year or they're going to be in danger of losing their jobs for underperformance. And fourth, good news from the United States.]
But not everyone is excited about the rally. Our next guest says that normalization of the Nikkei has occurred and now might not be the best time to get in on Japanese equities.
Have a listen.
[Sound on tape by Sani Hamid, Director, Wealth Management, Economy & Market Strategy, Financial Alliance: I am pretty okay with the Nikkei except that I don't think I'm going to chase it - i'd rather pick it up on the correction to the downside. It's following the yen, and the yen is getting stuck at the hundred level. Potentially I think the Nikkei could retrace once it finds the yen can't really break that level over the short run. ]
Li Sixuan, from CNBC's Asia headquarters.