Asia Graphics-Asia-Pacific equities extend gains in April

May 2 (Reuters) - Asia-Pacific equities extended gains in

April as investors' risk appetite increased, bolstered by the

French elections' first-round results, easing concerns over

North Korea and strong first-quarter earnings posted by major

Asian companies.

MSCI's broadest index of Asia-Pacific shares outside Japan

, which is up more than 15 percent this year, was

trading near a two-year high on Tuesday. The Indian stocks led

the region with gains of over 20 percent so far this year, while

China bottomed the list with a near 2.5 percent rise.

Valuation-wise, New Zealand and Indian equities were the

most expensive in the region with forward P/E multiples of over

18, while the South Korean and Hong Kong stocks were the

cheapest, trading around 11 times their earnings.

Asian markets performance: http://tmsnrt.rs/2p308Ak

Asian markets valuations: http://tmsnrt.rs/2p3AlYF

Asian markets-Analyst revision scores: http://tmsnrt.rs/2oSAYZa

CONTEXT:

Samsung Electronics Co Ltd flagged stronger

earnings and announced a cancellation of treasury shares after

posting a solid first-quarter profit boosted by the memory chip

business, sending its shares to a new high.

CITIC Securities Co Ltd, China's biggest

brokerage, reported a 40.2 percent rise in first-quarter net

profit to 2.3 billion yuan ($333.63 million).

TSMC said Q1 net profit up 35 pct to T$87.6 bln.

(Reporting by Gaurav S Dogra and Patturaja Murugabooopathy;

Editing by Sherry Jacob-Phillips)