(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 rose 0.67 percent, marking its first monthly gain since April.
Thai shares and Philippine stocks advanced about 6.5 percent during July, while Indian shares gained 6 percent.
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 lagged others in the region, with a fall of 1.33 percent in July.
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.
Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Richard Borsuk