Asia stocks resilient as Wall Street slips, China trade disappoints

Risk assets had rallied on Friday amid speculation China was preparing to relax its pandemic restrictions, but over the weekend health officials reiterated their commitment to the "dynamic-clearing" approach to COVID cases as soon as they emerge.

Speculation that China might open its economy saw copper jump 7% on Friday in its biggest one-day rally since 2009, while a range of resources all benefited from hopes of increased demand. A little of that reversed on Monday, with the Aussie down 0.7% at $0.6421 after jumping 3% on Friday. The dollar gained 0.7% on the offshore yuan .

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How the midterms could affect Wall Street | CNN BusinessLast week was a volatile one on Wall Street, with stocks falling after Federal Reserve chair Jerome Powell dashed the market's dreams of a pivot and suggested that more big rate hikes are likely coming. But Wall Street is still turning its hopes to Washington.
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