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 -1.8% -1.9% +20.0% +20.9% Austria +0.2 +0.6 +17.7 +1.3 Belgium -1.9 -1.3 +15.7 +0.2 Britain +1.8 +2.6 +18.4 +4.5 Canada -0.1 -0.1 +6.5 +7.3 France +2.8 +3.2 +19.6 +3.7 Germany +0.8 +1.4 +14.9 -1.0 Hong Kong +2.9 +2.9 +24.9 +25.0 Italy +0.5 +1.0 +13.2 -0.6 Japan +2.2 +1.7 +13.8 +11.5 Netherlands +1.6 +2.3 +21.0 +4.4 Singapore/Malaysia -1.6 -1.7 +20.4 +18.0 Spain +0.2 +0.6 +24.9 +11.2 Sweden -1.1 -0.4 +23.0 +11.9 Switzerland +0.3 +1.1 +23.0 +7.2 United States +0.1% +15.3%

Source: Morgan Stanley Capital International