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 +2 +4.0% +8.3% +10.6% Austria +11.7 +10.4 +9.1 +10.5 Belgium +2.7 +1.8 +6.4 +8.6 Britain +2.5 +1.8 +8.0 +10.5 Canada +1.4 +1.9 +6.5 +7.2 France +3.2 +2.0 +9.1 +10.8 Germany +4.8 +3.5 +8.7 +10.5 Hong Kong +1.3 +1.4 +12.8 +12.9 Italy +7.7 +6.4 +8.5 +10.5 Japan +4.4 +2.5 +9.2 +14.1 Netherlands +3.7 +2.5 +4.9 +6.8 Singapore/Malaysia +2.1 +2.2 +8.3 +10.1 Spain +6.7 +6.0 +16.3 +20.6 Sweden +1.6 +0.9 +14.4 +16.9 Switzerland +5.2 +3.4 +13.4 +14.6 United States +1.8% +10.9%

Source: Morgan Stanley Capital International