WELLINGTON, July 25 ― Most Asian index futures rose, as the Standard & Poor’s 500 Index extended its record and Baidu Inc jumped in extended US trading after posting better-than- estimated earnings. The yen held declines with gold before Japan reports on inflation.

Futures on indexes from Australia to Hong Kong added at least 0.1 per cent, while Nikkei 225 Stock Average futures were lower in Chicago after gaining in Osaka. S&P 500 futures fell 0.1 per cent by 7.47am in Tokyo, after the gauge ended the US day at a new all-time high of 1,987.98. Baidu, owner of China’s largest Internet search engine, climbed more than 6 per cent after hours. The yen was set for the biggest weekly decline among Asian currencies, while New Zealand’s dollar held near a six-week low. Gold was steady after yesterday’s 0.8 per cent drop.

Global equities extended gains yesterday and US Treasuries fell as data signalled growth in euro-area factory output and service industries, while Chinese manufacturing reached an 18-month high. Facebook Inc. overshadowed mixed US economic reports, with fewer US homes sold in June than predicted, and slower expansion in manufacturing. Japanese consumer-price growth probably slackened in June, with the core CPI forecast to come in at 3.3 per cent from 3.4 per cent in May.

“Earnings are coming in better than expected and the market has taken a queue from that, but the economy overall is kind of a mixed bag,” John Kvantas, director of equity research at USAA Investments, said in a phone interview from San Antonio, Texas, referring to the US He helps oversee US$63 billion (RM200 billion) in mutual fund assets.

Asian futures

Futures on Australia’s S&P/ASX 200 Index rose 0.1 per cent, while contracts on the Kospi gauge in Seoul added 0.2 per cent. Hang Seng Index futures were 0.2 per cent higher in recent trading, along with contracts on the Hang Seng China Enterprises Index. The index of mainland Chinese shares listed in Hong Kong has climbed 4.8 per cent this week, on track for its best weekly performance since March.

Nikkei 225 futures were little changed at 15,335 on the Chicago Mercantile Exchange, after falling 0.1 per cent in the previous session. Contracts gained 0.3 per cent to 15,350 by 3 a.m. local time in Osaka. The Japanese index has advanced 0.5 per cent since this week, set for a second consecutive week of gains, while the MSCI Asia Pacific Index of regional equities is up 1.1 per cent, its 10th climb in 11 weeks. The index trades at 13.6 times estimated earnings for member companies, the most expensive since December, data compiled by Bloomberg show.

Yen, Kiwi

The yen was little changed today at 101.79 per dollar after slipping 0.3 per cent in the last session and touching 101.86, the weakest level since July 9. Japan’s currency has retreated 0.4 per cent this week, the steepest drop among 12 Asian currencies tracked by Bloomberg.

New Zealand’s dollar, known as the kiwi, was steady at 85.70 US cents, after sliding 1.5 per cent yesterday, its largest one-day slump since August, 2013. The currency is posting the steepest losses among 16 major peers this week, down 1.3 per cent to trim its gain this year to 4.3 per cent. The Reserve Bank of New Zealand yesterday warned of the potential for a “significant fall” in the kiwi and signaled a pause in its tightening cycle after four interest-rate increases in 2014.

American depositary receipts of Baidu were at US$217.51 by 6.19pm in New York, after gaining 2.1 per cent to a record US$204.27 in normal trading hours. The Beijing-based company said net income rose to 3.55 billion yuan in the second quarter, from 2.64 billion yuan a year earlier, as advertisers boosted spending to reach mobile users.

Amazon declines

The Bloomberg China-US Equity Index of the most-traded Chinese stocks in New York advanced a fifth day, rising 1 per cent to the highest close since July 2011. Baidu has already gained 15 per cent this year, after soaring 77 per cent in 2013, while the China-US gauge is up 6.4 per cent in 2014.

Amazon.com Inc. slid about 10 per cent in extended trading, after reporting the widest loss since 2012 amid increased spending on new services. Facebook jumped 5.2 per cent to an all-time high in the US trading day, after posting profit and sales that exceeded estimates.

Gold, regarded with the yen as a haven investment, was little changed at US$1,293.54 an ounce in the spot market after slipping 0.8 per cent yesterday, the biggest one-day drop since July 15. Copper futures on the Comex were down 0.1 per cent to US$3.2640 a pound with the metal headed for a weekly gain of 2.6 per cent in London.

West Texas Intermediate crude fell 0.1 per cent to US$101.99 a barrel following a 1 per cent drop in the previous session. US inventories of gasoline grew for a third week, Energy Information Administration data showed yesterday. Gasoline futures for August delivery were up 0.4 per cent in early trading today, after slipping 0.8 per cent yesterday to a six-month low. ― Bloomberg