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 +0.8% +2.1% +14.7% +16.4% Austria +3.1 +5.0 +17.1 +5.0 Belgium +0.2 +2.9 +17.6 +6.9 Britain +3.4 +6.1 +20.0 +11.7 Canada +1.2 +1.6 +6.8 +7.4 France +2.1 +4.8 +21.0 +10.0 Germany +4.6 +7.1 +12.1 +1.4 Hong Kong +2.7 +2.7 +27.6 +27.7 Italy +2.8 +5.6 +15.9 +6.3 Japan +2.3 +6.0 +14.7 +15.0 Netherlands +0.4 +3.3 +16.2 +5.1 Singapore/Malaysia -0.1 +1.7 +21.4 +19.8 Spain -1.3 +1.0 +26.3 +17.9 Sweden +1.4 +3.0 +31.1 +22.9 Switzerland +2.4 +6.1 +23.6 +13.3 United States +1.6% +15.6%

Source: Morgan Stanley Capital International