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 +1.0% +1.1% +13.7% +14.0% Austria +1.0 -2.1 +13.5 Unch. Belgium +1.3 -1.7 +17.4 +3.9 Britain +0.5 -1.5 +16.0 +5.3 Canada +0.7 +0.7 +5.6 +5.7 France +1.8 -0.7 +18.4 +5.0 Germany +0.1 -2.7 +7.2 -5.3 Hong Kong +0.8 +0.7 +24.3 +24.4 Italy +0.1 -3.0 +13.2 +1.1 Japan -1.0 -3.2 +12.0 +8.3 Netherlands +3.0 -0.4 +15.7 +1.8 Singapore/Malaysia +0.8 -0.6 +21.4 +17.8 Spain +2.6 +0.2 +27.9 +16.8 Sweden +0.4 -1.2 +29.2 +19.3 Switzerland +2.1 -0.3 +20.7 +6.8 United States +2.2% +13.8%

Source: Morgan Stanley Capital International