Asian stocks weaker; Qantas profitable in FY2009 and seeing improving market conditions

Asian stocks were weaker yesterday, dragging down the MSCI Asia Pacific Index down the most in two months, as concern spread that the US Federal Reserve's plans this week to boost economic growth indicate an economic recovery is in jeopardy. The Commerce Department also reported yesterday that the US trade deficit widened in Jun-2010 by a record USD7.9 billion as imports rose and exports fell.