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Asian shares hit historic highs on Monday after Wall Street extended its record-breaking run, while the U.S. dollar retreat continued as investors priced in the risk of tighter policies elsewhere in the developed world.

Activity was restrained somewhat as a U.S. holiday on Monday curbed trade in cash Treasuries, though E-Mini futures for the S&P500 made early gains of 0.2 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent to 591.66, finally clearing the former all-time top of 591.50 from late 2007.

Australia’s main index firmed 0.5 percent, while futures for Japan’s Nikkei pointed to opening gains.

Investors were optimistic that Chinese gross domestic product data due on Thursday would show growth of at least 6.7 percent for the world’s second biggest economy.

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