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 -3.8% -3.9% -13.5 -9.6% Austria -10.7 -10.2 -12.1 -5.0 Belgium -3.1 -2.6 -25.7 -18.1 Britain -1.2 -1.0 -18.7 -5.6 Canada -3.2 -3.2 -18.7 -18.4 France -3.0 -2.1 -26.3 -18.7 W. Germany -8.7 -7.9 -24.7 -18.6 Hong Kong -7.9 -7.9 -4.8 -4.3 Italy -2.8 -2.2 -24.2 -17.9 Japan -9.9 -10.7 -46.6 -44.3 Netherlands -4.4 -3.5 -17.2 -10.4 Singapore/Malaysia -9.2 -9.2 -25.7 -20.0 Spain -6.2 -5.4 -31.3 -23.3 Sweden -15.5 -15.2 -26.9 -21.5 Switzerland -6.9 -5.2 -25.0 -10.9 United States -4.4% -4.4%

Source: Morgan Stanley Capital International