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 +5.0% +3.7% +19.8% +20.1% Austria +0.5 -2.0 +18.6 +3.4 Belgium +0.8 -2.4 +18.6 +3.5 Britain -0.4 -3.3 +18.8 +7.0 Canada +0.5 +0.0 +6.5 +7.0 France -1.5 -4.2 +17.4 +2.9 Germany +1.0 -2.0 +12.8 -2.2 Hong Kong -2.2 -2.2 +22.3 +22.5 Italy +1.9 -0.8 +17.2 +3.8 Japan -0.3 -1.5 +13.2 +11.8 Netherlands +1.9 -1.0 +19.5 +3.8 Singapore/Malaysia +3.3 +2.3 +22.2 +19.7 Spain +0.7 -2.2 +27.5 +14.6 Sweden -2.2 -4.3 +25.6 +14.8 Switzerland +0.2 -2.9 +23.8 +8.3 United States +1.7% +17.3%

Source: Morgan Stanley Capital International