May 3, 2018 / 8:18 AM / 8 months ago

Asian stocks edge up in April after two straight retreats

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, June 29, 2015. REUTERS/Danish Siddiqui/Files

(Reuters) - Asian stocks edged up in April after declines the two previous months, helped by receding tension in the Korean peninsula and a strong earnings performance in the first quarter for regional equities.

However, trade tension between the United States and China, and a rise in U.S. Treasury yields limited gains last month.

(Graphic: Asia-Pacific monthly performance- April 2018 -

MSCI’s broadest index of Asia-Pacific shares inched up 0.82 percent in April, after falling more than 6 percent in February and March combined.

Indian stocks led the gainers in Asia, with the NSE Nifty up 6.2 percent on the back of solid earnings by major companies such as Tata Consultancy Services. Singapore was second, with the STI index up 5.4 percent.

(Graphic: Asia-Pacific performance 2018 -

Vietnamese stocks were the region’s worst performers in April. The VNI index slid 10.6 percent.

At the end of April, India was the second-most expensive market after New Zealand, in terms of forward price-to-earnings ratio, according to Thomson Reuters Eikon data.

(Graphic: Asia-Pacific valuations -

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Richard Borsuk

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