(Reuters) - Asian stocks posted marginal gains in July after two straight months of declines as strong second-quarter earnings bolstered regional shares amid simmering trade tensions between China and the United States.
In July, the MSCI Asia-ex-Japan index <.MIAPJ0000US> rose 0.67 percent, marking its first monthly gain since April.
Thai shares <.SETI> and Philippine <.PSI> stocks advanced about 6.5 percent during July, while Indian shares <.NSEI> gained 6 percent.
Graphic: Asia Pacific equities performance in July 2018 - https://reut.rs/2LFX0K3
Thomson Reuters data showed that 53.6 percent of Asian companies have exceeded or met the consensus analyst forecasts for the second quarter earnings so far.
South Korean stocks <.KS11> lagged others in the region, with a fall of 1.33 percent in July.
Graphic: Asia Pacific equities performance in 2018 - https://reut.rs/2M8cd2v
New Zealand, India and Australia stocks have the highest price-earnings ratio based on 12-month forward earnings in Asia, according to Thomson Reuters data.
Graphic: Asia Pacific equities valuations - https://reut.rs/2mZHxWn
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Richard Borsuk)
