FOREIGN STOCK MARKETS

Stock index trends in native currencies and in dollars adjusted for currency fluctuations. The dollar-adjusted returns are what U.S. investors would realize.

Last week Year-to-date Market Native In dollars Native In dollars Australia +3.2% +2.0% -0.1% -0.1% Austria +4.1 +4.5 +39.9 +44.0 Belgium -0.4 -0.2 -8.8 -4.1 Britain +1.4 +2.5 -2.3 +9.5 Canada +1.1 +1.5 -8.8 -8.7 France -0.1 +0.2 -1.5 +3.2 W. Germany +0.2 +0.6 +8.9 +12.1 Hong Kong +4.6 +4.7 +24.3 +24.9 Italy -1.3 -0.8 +0.9 +6.2 Japan +0.1 +2.2 -20.7 -22.7 Netherlands +3.0 +3.2 -2.5 +0.4 Singapore/Malaysia +3.8 +4.6 +5.8 +10.7 Spain +2.6 +3.0 -0.2 +8.3 Sweden -0.3 +0.0 +10.1 +14.4 Switzerland +1.8 +2.1 +5.5 +16.6 United States +3.1% +4.4%

Source: Morgan Stanley Capital International