Performance Derby: MSCI Share Price Indexes Yardeni Research, Inc.

January 13, 2017

Dr. Ed Yardeni 516-972-7683 [email protected]

Joe Abbott 732-497-5306 [email protected]

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MSCI Share Price Indexes (local currency) Table 1: MSCI Performance % Changes (as of January 13, 2017) Daily

Week-T-D

W/W

Jan 2017-T-D

Q4-2016

2016

Italy Argentina Denmark Ireland Finland Sweden Netherlands France Spain Belgium Singapore South Africa Germany Switzerland Turkey Japan United Kingdom Norway Canada Israel Austria Thailand China Portugal Hong Kong Hungary Mexico United States Egypt Jordan Sri Lanka Colombia India Czech Republic Chile Indonesia Poland Philippines Malaysia New Zealand Brazil Taiwan Peru Australia Russia Korea Pakistan Morocco Greece

1.6 1.6 1.5 1.4 1.3 1.2 1.1 1.1 1.1 1.1 1.0 1.0 0.9 0.9 0.7 0.6 0.6 0.6 0.6 0.5 0.5 0.5 0.4 0.4 0.4 0.3 0.3 0.2 0.0 0.0 0.0 0.0 -0.1 -0.1 -0.1 -0.2 -0.4 -0.4 -0.4 -0.4 -0.5 -0.5 -0.5 -0.8 -0.8 -0.9 -1.0 -1.4 -2.7

Argentina Turkey Brazil Egypt Singapore Hong Kong China Korea India United Kingdom South Africa Morocco Chile Poland Hungary Ireland New Zealand Switzerland France Norway Netherlands Germany Mexico Sri Lanka Pakistan Canada Sweden Taiwan Peru Philippines United States Malaysia Jordan Colombia Thailand Austria Portugal Israel Spain Czech Republic Denmark Japan Australia Belgium Finland Russia Italy Indonesia Greece

8.5 5.9 3.1 2.6 2.4 2.3 1.9 1.8 1.7 1.7 1.5 1.4 1.4 1.4 1.1 1.0 0.8 0.5 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.2 0.1 0.1 0.1 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.3 -0.3 -0.4 -0.5 -0.5 -0.6 -0.7 -0.9 -1.0 -1.5 -2.0 -2.0

Argentina Turkey Brazil Egypt Singapore Hong Kong China Korea India United Kingdom South Africa Morocco Chile Poland Hungary Ireland New Zealand Switzerland France Norway Netherlands Germany Mexico Sri Lanka Pakistan Canada Sweden Taiwan Peru Philippines United States Malaysia Jordan Colombia Thailand Austria Portugal Israel Spain Czech Republic Denmark Japan Australia Belgium Finland Russia Italy Indonesia Greece

8.5 5.9 3.1 2.6 2.4 2.3 1.9 1.8 1.7 1.7 1.5 1.4 1.4 1.4 1.1 1.0 0.8 0.5 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.2 0.1 0.1 0.1 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.3 -0.3 -0.4 -0.5 -0.5 -0.6 -0.7 -0.9 -1.0 -1.5 -2.0 -2.0

Argentina Morocco Philippines Peru Brazil Hong Kong China Egypt Singapore Turkey Poland Austria Hungary Pakistan South Africa Korea New Zealand Switzerland United Kingdom India Norway Thailand Malaysia Spain United States Japan Chile Denmark Canada Taiwan Ireland Germany Mexico France Colombia Australia Netherlands Portugal Sweden Italy Belgium Greece Israel Finland Czech Republic Jordan Indonesia Russia Sri Lanka

15.4 8.8 6.2 5.5 5.5 5.2 5.0 4.9 4.9 4.3 3.9 3.9 3.8 3.2 3.1 3.1 2.9 2.8 2.7 2.7 2.4 2.0 1.8 1.8 1.7 1.7 1.7 1.6 1.5 1.5 1.4 1.3 1.3 1.3 1.3 1.1 0.9 0.8 0.5 0.5 0.3 0.3 0.0 0.0 -0.2 -0.4 -0.5 -1.8 -2.0

Egypt Greece Italy Hungary Morocco Japan Russia Pakistan Austria Poland Norway France Spain Germany Ireland Jordan Australia Sweden Canada Chile Netherlands Portugal United Kingdom United States Czech Republic Peru Korea Finland Singapore Thailand Colombia Brazil Turkey Switzerland Taiwan Malaysia Mexico Denmark Sri Lanka Indonesia South Africa India Belgium China New Zealand Hong Kong Israel Philippines Argentina

56.5 22.3 17.8 16.3 15.6 14.9 14.7 14.4 13.5 12.6 9.6 9.4 8.6 8.1 6.6 5.5 5.4 4.9 4.8 3.7 3.6 3.4 3.4 3.0 2.9 2.5 2.2 1.9 1.5 1.5 1.3 1.2 1.0 0.8 0.6 -1.3 -2.5 -3.0 -3.9 -4.9 -5.0 -6.4 -6.8 -7.1 -7.1 -9.3 -9.9 -10.7 -12.2

Egypt Peru Hungary Brazil Morocco Pakistan Russia Thailand Canada Colombia United Kingdom Taiwan Indonesia Austria New Zealand Korea United States Turkey Australia Chile Mexico Norway France Sweden Netherlands Argentina Portugal Germany Poland South Africa India Spain Singapore Hong Kong China Philippines Malaysia Japan Sri Lanka Jordan Finland Ireland Switzerland Czech Republic Belgium Greece Italy Denmark Israel

101.8 53.8 33.1 32.7 32.6 32.3 29.0 22.4 17.6 17.1 14.2 12.7 12.2 12.1 11.0 10.2 9.2 7.8 7.2 7.0 6.5 6.3 5.3 5.2 4.8 3.9 3.5 3.4 3.3 1.6 -0.3 -0.4 -0.8 -1.0 -1.4 -2.5 -2.5 -2.6 -4.2 -4.7 -5.1 -5.6 -5.9 -6.9 -7.0 -10.6 -10.7 -15.1 -26.8

EMU EAFE AC World ex-US Dev World ex-US AC World BRIC EM EM Asia EM Latam EMEA EM East Europe

1.1 0.7 0.5 0.4 0.4 0.1 -0.1 -0.1 -0.2 -0.5 -0.7

EM Latam BRIC EM EM Asia AC World ex-US EMEA EAFE AC World EMU Dev World ex-US EM East Europe

2.0 1.8 1.3 1.2 0.5 0.4 0.3 0.2 0.1 0.1 -0.4

EM Latam BRIC EM EM Asia AC World ex-US EMEA EAFE AC World EMU Dev World ex-US EM East Europe

2.0 1.8 1.3 1.2 0.5 0.4 0.3 0.2 0.1 0.1 -0.4

BRIC EM Latam EM Asia EM AC World ex-US AC World EAFE Dev World ex-US EMU EMEA EM East Europe

4.0 3.9 3.3 3.1 2.1 1.9 1.9 1.8 1.2 0.8 -0.4

EM East Europe EMEA EMU EAFE AC World ex-US Dev World ex-US AC World EM Latam EM EM Asia BRIC

14.0 9.6 7.8 6.7 4.6 4.4 3.7 0.4 -1.8 -3.4 -4.0

EM East Europe EM Latam EMEA EM AC World Dev World ex-US BRIC EM Asia AC World ex-US EAFE EMU

21.5 21.3 14.4 7.1 6.8 6.8 5.4 4.5 4.1 2.3 1.8

Source: Haver Analytics.

Page 1 / January 13, 2017 / MSCI Share Price Indexes

Yardeni Research, Inc. www.yardeni.com

*PRIOR DAY* MSCI Share Price Indexes (local currency) Table 2: MSCI Performance % Changes PRIOR DAY (using January 12, 2017) Daily

Week-T-D

W/W

Jan 2017-T-D

Q4-2016

2016

Turkey Brazil Taiwan Portugal Korea Chile Peru Austria India Malaysia Mexico Pakistan Spain Greece Jordan Sri Lanka United Kingdom Hungary Israel Russia Singapore Australia Czech Republic United States Argentina Norway Indonesia Morocco Poland Thailand Colombia China Egypt Ireland France Canada Sweden Switzerland South Africa New Zealand Netherlands Hong Kong Philippines Belgium Finland Japan Germany Denmark Italy

4.7 2.5 0.9 0.6 0.6 0.6 0.4 0.3 0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.0 0.0 0.0 0.0 -0.1 -0.1 -0.1 -0.1 -0.2 -0.3 -0.3 -0.3 -0.3 -0.4 -0.4 -0.4 -0.4 -0.5 -0.5 -0.5 -0.5 -0.5 -0.6 -0.6 -0.6 -0.7 -0.8 -0.9 -0.9 -1.0 -1.0 -1.0 -1.6 -1.7

Argentina Turkey Brazil Morocco Korea Egypt Hong Kong Poland India Chile China Singapore Pakistan New Zealand United Kingdom Greece Hungary Peru Taiwan South Africa Philippines Sri Lanka Malaysia Australia Mexico Colombia Jordan Russia Norway United States Czech Republic Switzerland Canada Ireland Germany Portugal Thailand France Austria Netherlands Israel Sweden Japan Spain Belgium Indonesia Denmark Finland Italy

6.8 5.1 3.6 2.9 2.8 2.6 1.9 1.8 1.8 1.5 1.5 1.4 1.3 1.2 1.1 0.7 0.7 0.6 0.6 0.6 0.4 0.3 0.3 0.2 0.1 -0.1 -0.1 -0.2 -0.2 -0.3 -0.3 -0.4 -0.4 -0.4 -0.6 -0.6 -0.6 -0.7 -0.7 -0.8 -0.8 -1.0 -1.2 -1.4 -1.7 -1.8 -2.0 -2.1 -3.1

Argentina Morocco Turkey Korea Brazil Egypt South Africa Hong Kong Chile Poland Pakistan Singapore China United Kingdom India New Zealand Malaysia Philippines Hungary Taiwan Sri Lanka Greece Peru Australia Czech Republic United States Switzerland Jordan Colombia Russia Germany Norway France Netherlands Austria Thailand Portugal Canada Ireland Sweden Spain Mexico Japan Indonesia Belgium Denmark Finland Italy Israel

8.5 6.2 6.2 3.3 2.9 2.6 2.4 2.1 1.8 1.8 1.7 1.6 1.5 1.3 1.2 1.1 1.1 1.0 1.0 0.8 0.8 0.7 0.3 0.2 0.2 0.1 -0.1 -0.1 -0.4 -0.4 -0.5 -0.5 -0.6 -0.7 -0.7 -0.8 -0.8 -0.9 -0.9 -1.0 -1.1 -1.2 -1.4 -1.5 -1.8 -1.9 -2.1 -2.9 -3.8

Argentina Morocco Philippines Peru Brazil Egypt Hong Kong China Poland Pakistan Korea Singapore Turkey Hungary Austria New Zealand Greece India Malaysia South Africa United Kingdom Taiwan Switzerland Australia Norway Chile United States Thailand Colombia Mexico Japan Canada Spain Germany Portugal France Denmark Ireland Czech Republic Netherlands Indonesia Jordan Israel Sweden Belgium Russia Italy Finland Sri Lanka

13.5 10.3 6.6 6.1 6.0 4.9 4.8 4.5 4.3 4.2 4.0 3.9 3.5 3.5 3.4 3.3 3.1 2.7 2.3 2.1 2.1 2.0 1.9 1.9 1.8 1.8 1.5 1.5 1.3 1.1 1.0 0.9 0.7 0.4 0.4 0.2 0.0 -0.1 -0.1 -0.2 -0.3 -0.4 -0.5 -0.6 -0.7 -0.9 -1.1 -1.3 -2.0

Egypt Greece Italy Hungary Morocco Japan Russia Pakistan Austria Poland Norway France Spain Germany Ireland Jordan Australia Sweden Canada Chile Netherlands Portugal United Kingdom United States Czech Republic Peru Korea Finland Singapore Thailand Colombia Brazil Turkey Switzerland Taiwan Malaysia Mexico Denmark Sri Lanka Indonesia South Africa India Belgium China New Zealand Hong Kong Israel Philippines Argentina

56.5 22.3 17.8 16.3 15.6 14.9 14.7 14.4 13.5 12.6 9.6 9.4 8.6 8.1 6.6 5.5 5.4 4.9 4.8 3.7 3.6 3.4 3.4 3.0 2.9 2.5 2.2 1.9 1.5 1.5 1.3 1.2 1.0 0.8 0.6 -1.3 -2.5 -3.0 -3.9 -4.9 -5.0 -6.4 -6.8 -7.1 -7.1 -9.3 -9.9 -10.7 -12.2

Egypt Peru Hungary Brazil Morocco Pakistan Russia Thailand Canada Colombia United Kingdom Taiwan Indonesia Austria New Zealand Korea United States Turkey Australia Chile Mexico Norway France Sweden Netherlands Argentina Portugal Germany Poland South Africa India Spain Singapore Hong Kong China Philippines Malaysia Japan Sri Lanka Jordan Finland Ireland Switzerland Czech Republic Belgium Greece Italy Denmark Israel

101.8 53.8 33.1 32.7 32.6 32.3 29.0 22.4 17.6 17.1 14.2 12.7 12.2 12.1 11.0 10.2 9.2 7.8 7.2 7.0 6.5 6.3 5.3 5.2 4.8 3.9 3.5 3.4 3.3 1.6 -0.3 -0.4 -0.8 -1.0 -1.4 -2.5 -2.5 -2.6 -4.2 -4.7 -5.1 -5.6 -5.9 -6.9 -7.0 -10.6 -10.7 -15.1 -26.8

EM Latam EMEA EM BRIC EM Asia EM East Europe AC World Dev World ex-US AC World ex-US EAFE EMU

1.6 0.4 0.3 0.2 0.1 -0.1 -0.3 -0.4 -0.4 -0.6 -0.7

EM Latam BRIC EM EM Asia EMEA EM East Europe AC World ex-US AC World Dev World ex-US EAFE EMU

2.3 1.7 1.4 1.4 0.9 0.3 0.0 -0.1 -0.3 -0.4 -1.0

EM Latam EM EM Asia BRIC EMEA EM East Europe AC World AC World ex-US Dev World ex-US EAFE EMU

1.6 1.5 1.5 1.5 0.9 0.1 0.1 0.0 -0.1 -0.4 -0.9

EM Latam BRIC EM Asia EM AC World ex-US AC World Dev World ex-US EMEA EAFE EM East Europe EMU

4.2 3.9 3.4 3.2 1.6 1.6 1.4 1.3 1.2 0.3 0.1

EM East Europe EMEA EMU EAFE AC World ex-US Dev World ex-US AC World EM Latam EM EM Asia BRIC

14.0 9.6 7.8 6.7 4.6 4.4 3.7 0.4 -1.8 -3.4 -4.0

EM East Europe EM Latam EMEA EM AC World Dev World ex-US BRIC EM Asia AC World ex-US EAFE EMU

21.5 21.3 14.4 7.1 6.8 6.8 5.4 4.5 4.1 2.3 1.8

Source: Haver Analytics.

Page 2 / January 13, 2017 / MSCI Share Price Indexes

Yardeni Research, Inc. www.yardeni.com

MSCI Share Price Indexes (US$) Table 3: MSCI Performance % Changes in US$ (as of January 13, 2017) Daily

Week-T-D

W/W

Jan 2017-T-D

Q4-2016

2016

Argentina Italy Denmark Ireland Sweden Egypt South Africa Finland Netherlands France Spain Belgium Switzerland Turkey Canada Germany Norway Singapore Mexico Israel China Thailand Hong Kong United Kingdom Austria Chile United States Portugal Hungary Jordan Sri Lanka Korea Taiwan Japan India Colombia Czech Republic Malaysia Indonesia Peru New Zealand Philippines Poland Australia Pakistan Russia Brazil Morocco Greece

1.6 1.4 1.3 1.1 1.1 1.1 1.0 1.0 0.9 0.9 0.8 0.8 0.7 0.7 0.7 0.6 0.6 0.6 0.5 0.5 0.4 0.4 0.4 0.3 0.3 0.3 0.2 0.1 0.0 0.0 0.0 -0.1 -0.1 -0.2 -0.2 -0.3 -0.3 -0.5 -0.5 -0.5 -0.5 -0.7 -0.8 -0.9 -1.0 -1.5 -1.5 -1.5 -3.0

Argentina Korea South Africa Brazil Chile Singapore New Zealand Hong Kong Turkey China Morocco Australia Hungary Sweden Ireland Poland India Taiwan France Switzerland Germany Canada Netherlands Japan Thailand Norway United Kingdom Pakistan Austria Portugal Sri Lanka Spain Malaysia Czech Republic Peru Denmark United States Jordan Israel Belgium Philippines Finland Colombia Italy Mexico Egypt Russia Greece Indonesia

8.5 3.4 3.3 3.0 2.8 2.7 2.6 2.3 2.1 1.9 1.8 1.8 1.7 1.4 1.4 1.4 1.3 1.3 0.9 0.9 0.8 0.8 0.8 0.7 0.6 0.5 0.5 0.3 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.0 -0.1 -0.1 -0.2 -0.2 -0.2 -0.5 -0.7 -1.0 -1.0 -1.4 -1.5 -1.6 -1.7

Argentina Korea South Africa Brazil Chile Singapore New Zealand Hong Kong Turkey China Morocco Australia Hungary Sweden Ireland Poland India Taiwan France Switzerland Germany Canada Netherlands Japan Thailand Norway United Kingdom Pakistan Austria Portugal Sri Lanka Spain Malaysia Czech Republic Peru Denmark United States Jordan Israel Belgium Philippines Finland Colombia Italy Mexico Egypt Russia Greece Indonesia

8.5 3.4 3.3 3.0 2.8 2.7 2.6 2.3 2.1 1.9 1.8 1.8 1.7 1.4 1.4 1.4 1.3 1.3 0.9 0.9 0.8 0.8 0.8 0.7 0.6 0.5 0.5 0.3 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.0 -0.1 -0.1 -0.2 -0.2 -0.2 -0.5 -0.7 -1.0 -1.0 -1.4 -1.5 -1.6 -1.7

Argentina Morocco Brazil Philippines Korea Singapore Peru Poland Hungary Hong Kong New Zealand China Austria Australia South Africa Canada Norway Taiwan Switzerland Colombia Chile Japan Thailand Pakistan Spain Malaysia Sweden Denmark India Ireland Germany France United States Netherlands Egypt Portugal United Kingdom Italy Belgium Greece Finland Indonesia Czech Republic Israel Russia Jordan Sri Lanka Turkey Mexico

15.4 9.4 6.9 6.4 6.0 5.9 5.5 5.2 5.2 5.1 4.9 4.9 4.7 4.6 4.5 3.7 3.7 3.5 3.5 3.4 3.2 3.1 3.1 2.8 2.6 2.4 2.4 2.3 2.2 2.1 2.1 2.1 1.7 1.6 1.6 1.5 1.2 1.2 1.1 1.0 0.7 0.6 0.5 0.2 -0.1 -0.5 -2.1 -2.5 -3.7

Russia Greece Pakistan Morocco Italy Hungary Austria Jordan Poland United States Canada France Peru Chile Spain Norway Germany Brazil Ireland Australia Japan Sweden United Kingdom Thailand Taiwan Netherlands Colombia Portugal Czech Republic Switzerland Singapore Finland South Africa Sri Lanka Korea China Indonesia India Mexico Denmark Malaysia Hong Kong New Zealand Israel Argentina Belgium Philippines Turkey Egypt

17.7 14.8 14.5 11.0 10.6 9.3 6.5 5.6 3.3 3.0 2.7 2.7 2.5 2.0 1.9 1.7 1.5 1.0 0.1 -0.3 -0.3 -1.1 -1.7 -1.8 -2.2 -2.2 -2.8 -2.9 -3.4 -3.9 -4.1 -4.4 -4.5 -5.8 -6.8 -7.1 -7.9 -8.2 -8.4 -8.8 -9.0 -9.3 -11.0 -11.6 -12.2 -12.6 -12.9 -13.8 -23.3

Brazil Peru Russia Pakistan Hungary Morocco Colombia Thailand Canada South Africa Indonesia Taiwan Chile New Zealand Norway United States Austria Korea Australia Argentina Netherlands France Japan Portugal Germany Hong Kong China Poland Sweden Singapore India Spain United Kingdom Jordan Malaysia Switzerland Philippines Sri Lanka Finland Ireland Czech Republic Belgium Turkey Mexico Egypt Greece Italy Denmark Israel

61.3 53.8 48.9 32.7 32.3 29.9 23.9 23.0 21.8 15.1 14.8 14.8 13.2 13.1 9.4 9.2 8.8 7.0 6.7 3.9 2.2 2.2 0.5 0.4 0.4 -1.1 -1.4 -2.2 -2.4 -2.6 -2.8 -3.3 -4.2 -4.7 -6.7 -7.3 -7.7 -7.7 -7.8 -8.3 -9.6 -9.7 -10.5 -10.7 -12.8 -13.2 -13.3 -17.2 -26.1

EMU EAFE Dev World ex-US AC World ex-US AC World EM Asia EM BRIC EM Latam EMEA EM East Europe

0.8 0.3 0.3 0.3 0.2 0.1 -0.1 -0.2 -0.8 -0.9 -1.3

EM Asia EM Latam EM BRIC AC World ex-US EAFE EMU AC World Dev World ex-US EMEA EM East Europe

1.8 1.7 1.7 1.7 1.0 0.8 0.6 0.4 0.3 -0.2 -0.7

EM Asia EM Latam EM BRIC AC World ex-US EAFE EMU AC World Dev World ex-US EMEA EM East Europe

1.8 1.7 1.7 1.7 1.0 0.8 0.6 0.4 0.3 -0.2 -0.7

BRIC EM Asia EM EM Latam AC World ex-US EAFE AC World Dev World ex-US EMU EMEA EM East Europe

4.3 4.3 3.9 3.6 3.0 2.6 2.3 2.1 1.9 1.2 1.2

EM East Europe EMEA Dev World ex-US EMU AC World EAFE AC World ex-US EM Latam BRIC EM EM Asia

13.6 7.0 1.5 1.2 0.8 -1.0 -1.6 -1.7 -4.1 -4.6 -6.4

EM East Europe EM Latam EMEA BRIC EM AC World Dev World ex-US EM Asia AC World ex-US EMU EAFE

33.0 27.9 18.1 9.5 8.6 5.6 5.3 3.8 1.7 -1.2 -1.9

Source: Haver Analytics.

Page 3 / January 13, 2017 / MSCI Share Price Indexes

Yardeni Research, Inc. www.yardeni.com

*PRIOR DAY* MSCI Share Price Indexes (US$) Table 4: MSCI Performance % Changes in US$ PRIOR DAY (using January 12, 2017) Daily

Week-T-D

W/W

Jan 2017-T-D

Q4-2016

2016

Turkey Brazil South Africa Portugal Hungary Chile Austria Spain Sweden Greece Colombia Czech Republic Australia Korea Taiwan Russia New Zealand Norway Japan Ireland France United Kingdom Poland Mexico Switzerland Netherlands Singapore Belgium Finland Morocco Germany India Malaysia Peru Canada Israel Thailand Denmark Pakistan Jordan Italy Sri Lanka Indonesia United States Argentina China Philippines Hong Kong Egypt

8.9 3.9 2.9 2.4 2.2 2.2 2.1 1.9 1.8 1.8 1.7 1.6 1.6 1.6 1.5 1.5 1.4 1.4 1.3 1.3 1.3 1.3 1.3 1.2 1.0 0.9 0.8 0.8 0.8 0.7 0.7 0.6 0.5 0.4 0.4 0.3 0.2 0.2 0.1 0.0 0.0 0.0 0.0 -0.2 -0.3 -0.4 -0.6 -0.8 -1.3

Argentina Brazil Korea Morocco New Zealand Australia Chile South Africa Poland Singapore Hong Kong Hungary India China Taiwan Greece Turkey Pakistan Japan Malaysia Peru Philippines Czech Republic Sweden Ireland Thailand United Kingdom Sri Lanka Germany Switzerland Portugal Canada Russia France Austria Netherlands Norway Jordan United States Colombia Spain Israel Belgium Indonesia Denmark Finland Mexico Italy Egypt

6.8 4.6 3.5 3.4 3.2 2.7 2.5 2.3 2.2 2.2 1.9 1.7 1.6 1.5 1.5 1.5 1.3 1.3 1.0 0.6 0.6 0.5 0.4 0.3 0.3 0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.0 0.0 -0.1 -0.1 -0.1 -0.3 -0.4 -0.7 -0.7 -1.0 -1.2 -1.3 -1.4 -1.6 -2.4 -2.5

Argentina Morocco Brazil Korea South Africa New Zealand Australia Poland Hong Kong Hungary Singapore Turkey Chile Pakistan Malaysia China Taiwan Greece India Philippines Sri Lanka Czech Republic Thailand Peru United States Switzerland Germany Sweden Japan France Colombia Jordan Russia Netherlands Austria Portugal Canada United Kingdom Ireland Spain Norway Indonesia Belgium Denmark Finland Egypt Italy Mexico Israel

8.5 6.5 3.8 3.4 3.3 2.5 2.3 2.2 2.1 1.9 1.9 1.8 1.8 1.7 1.7 1.4 1.4 1.2 1.0 1.0 0.7 0.7 0.4 0.3 0.1 0.1 0.0 0.0 -0.1 -0.1 -0.1 -0.2 -0.2 -0.2 -0.2 -0.3 -0.4 -0.4 -0.4 -0.6 -0.6 -0.9 -1.3 -1.4 -1.7 -2.0 -2.4 -3.0 -3.6

Argentina Morocco Brazil Philippines Poland Peru Korea New Zealand Australia Singapore Hungary Hong Kong China Austria Greece Pakistan Colombia Taiwan South Africa Japan Norway Canada Malaysia Chile Switzerland Thailand India Spain United States Russia Germany Portugal Sweden France Indonesia Denmark Ireland United Kingdom Czech Republic Netherlands Egypt Belgium Italy Finland Israel Jordan Sri Lanka Turkey Mexico

13.5 11.1 8.5 7.1 6.1 6.1 6.1 5.5 5.5 5.3 5.1 4.8 4.5 4.4 4.1 3.8 3.7 3.7 3.5 3.4 3.0 3.0 2.9 2.9 2.8 2.7 2.4 1.7 1.5 1.4 1.4 1.4 1.2 1.2 1.1 1.0 1.0 0.9 0.9 0.7 0.5 0.3 -0.2 -0.3 -0.3 -0.6 -2.1 -3.2 -4.2

Russia Greece Pakistan Morocco Italy Hungary Austria Jordan Poland United States Canada France Peru Chile Spain Norway Germany Brazil Ireland Australia Japan Sweden United Kingdom Thailand Taiwan Netherlands Colombia Portugal Czech Republic Switzerland Singapore Finland South Africa Sri Lanka Korea China Indonesia India Mexico Denmark Malaysia Hong Kong New Zealand Israel Argentina Belgium Philippines Turkey Egypt

17.7 14.8 14.5 11.0 10.6 9.3 6.5 5.6 3.3 3.0 2.7 2.7 2.5 2.0 1.9 1.7 1.5 1.0 0.1 -0.3 -0.3 -1.1 -1.7 -1.8 -2.2 -2.2 -2.8 -2.9 -3.4 -3.9 -4.1 -4.4 -4.5 -5.8 -6.8 -7.1 -7.9 -8.2 -8.4 -8.8 -9.0 -9.3 -11.0 -11.6 -12.2 -12.6 -12.9 -13.8 -23.3

Brazil Peru Russia Pakistan Hungary Morocco Colombia Thailand Canada South Africa Indonesia Taiwan Chile New Zealand Norway United States Austria Korea Australia Argentina Netherlands France Japan Portugal Germany Hong Kong China Poland Sweden Singapore India Spain United Kingdom Jordan Malaysia Switzerland Philippines Sri Lanka Finland Ireland Czech Republic Belgium Turkey Mexico Egypt Greece Italy Denmark Israel

61.3 53.8 48.9 32.7 32.3 29.9 23.9 23.0 21.8 15.1 14.8 14.8 13.2 13.1 9.4 9.2 8.8 7.0 6.7 3.9 2.2 2.2 0.5 0.4 0.4 -1.1 -1.4 -2.2 -2.4 -2.6 -2.8 -3.3 -4.2 -4.7 -6.7 -7.3 -7.7 -7.7 -7.8 -8.3 -9.6 -9.7 -10.5 -10.7 -12.8 -13.2 -13.3 -17.2 -26.1

EM Latam EMEA EM East Europe EAFE EM AC World ex-US EMU BRIC EM Asia AC World Dev World ex-US

2.9 1.9 1.5 1.1 1.1 1.1 1.0 0.7 0.5 0.4 0.3

EM Latam BRIC EM EM Asia AC World ex-US EMEA EM East Europe EAFE AC World Dev World ex-US EMU

2.5 1.9 1.8 1.7 0.8 0.7 0.6 0.5 0.2 0.0 -0.3

EM EM Asia EM Latam BRIC EMEA EM East Europe AC World ex-US AC World Dev World ex-US EAFE EMU

1.7 1.7 1.7 1.6 0.7 0.4 0.4 0.2 0.1 0.0 -0.4

BRIC EM Latam EM Asia EM AC World ex-US EM East Europe EAFE EMEA AC World Dev World ex-US EMU

4.5 4.4 4.2 4.0 2.7 2.5 2.3 2.1 2.1 1.8 1.1

EM East Europe EMEA Dev World ex-US EMU AC World EAFE AC World ex-US EM Latam BRIC EM EM Asia

13.6 7.0 1.5 1.2 0.8 -1.0 -1.6 -1.7 -4.1 -4.6 -6.4

EM East Europe EM Latam EMEA BRIC EM AC World Dev World ex-US EM Asia AC World ex-US EMU EAFE

33.0 27.9 18.1 9.5 8.6 5.6 5.3 3.8 1.7 -1.2 -1.9

Source: Haver Analytics.

Page 4 / January 13, 2017 / MSCI Share Price Indexes

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