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 -1.2% -1.0% +12.6% +12.8% Austria -1.0 -4.4 +12.3 +2.1 Belgium -1.2 -4.4 +15.9 +5.7 Britain -1.9 -4.9 +15.7 +7.2 Canada -1.8 -2.1 +5.0 +5.2 France -1.3 -4.5 +16.2 +5.6 Germany -3.5 -6.7 +7.8 -1.9 Hong Kong -0.2 -0.1 +23.2 +23.5 Italy -1.9 -4.9 +13.4 +4.4 Japan -1.5 -2.0 +13.2 +11.9 Netherlands +0.5 -2.8 +12.2 +2.1 Singapore/Malaysia -1.0 -1.9 +20.4 +18.4 Spain -2.6 -5.6 +24.9 +16.7 Sweden -2.7 -5.1 +28.5 +20.7 Switzerland -1.0 -3.2 +18.1 +7.0 United States -1.9% +11.1%

Source: Morgan Stanley Capital International