Market Watch : 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 Since 12/89 Market Native In dollars Native In dollars Australia -3.7% -2.3% -22.3% -23.4% Austria -2.5 -0.9 -8.3 -3.1 Belgium -0.8 +1.1 -26.7 -15.9 Britain -2.0 +0.5 -12.1 +5.5 Canada Unch. +0.8 -15.9 -15.5 France +0.7 +2.6 -24.6 -14.5 Germany -0.8 +0.8 -20.5 -10.6 Hong Kong -0.5 -0.4 +4.5 +4.6 Italy +1.1 +3.0 -28.2 -19.6 Japan +0.7 +1.9 -39.6 -35.5 Netherlands -0.9 +0.8 -17.4 -7.1 Singapore/Malaysia +0.8 +1.1 -19.6 -12.5 Spain +1.0 +3.6 -27.2 -16.5 Sweden -2.2 -0.5 -31.2 -24.5 Switzerland -1.3 +1.1 -24.2 -8.4 United States -2.1% -7.9%

Source: Morgan Stanley Capital International