Records smashed as Asian shares pace U.S. rally

HONG KONG (MarketWatch) -- Share markets across Asia were back in record-setting mode Thursday, as investors turned their attention to DBS Group Holdings and China Mobile after positive U.S. economic data and a stronger finish on Wall Street helped restore confidence that the global equities bull market remains intact.

Share benchmarks in Australia, Singapore, Malaysia, Indonesia and New Zealand rose to records.

"The consensus is that we were expecting a quiet trading week,'" said Louis Wong, research director at Phillip Securities in Hong Kong. "The bears - those who have shorted the market - were caught unprepared, so their short-covering helped fuel the market rally."

Financial markets in Japan and China were closed for public holidays.