Indonesia racked up the best performance among Asian stock markets in 2004 as the region recorded its second consecutive strong year, with only Thailand and China registering losses. The Jakarta stock market rose nearly 45 percent this year, with most of its gains after the victory of Susilo Bambang Yudhoyono in the country's first direct presidential elections.

The former general is regarded as market friendly and investors were encouraged by the peaceful transition of power.

Vietnam's stock index was Asia's second best performer, followed by Sri Lanka's Colombo all-share index, despite losses this week following a devastating tsunami.

Copyright Reuters, 2005