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Poll forecasts yuan recovery, Asia stocks perk

Stocks in Asia saw broad gains on Wednesday.

In Japan, the Nikkei 225 regained 36.65 points, or 0.2%, to 23,506.04.

Earlier in the day, data showed that core machinery orders in Japan rose above expectations in August, suggesting possible growth in capital expenditure.

At the same time, the Japanese yen traded at 113.08 against the dollar

In Hong Kong, the Hang Seng index gained 20.16 points, or 0.1%, to 26,193.07

Australian stocks made their way slightly higher, with most sectors higher.

Shares of the country's largest private education company Navitas ended the trading day higher by 21.8% after the company earlier announced it had received a 1.97 billion Australian dollar ($1.4 billion U.S.) buyout offer from a consortium.

The Australian dollar pared some of its earlier gains but remained higher at $0.7109 following an overnight rally.

CHINA

The CSI 300 was down 7.09 points, or 0.2%, to 3,281.60

According to a Reuters poll, analysts expect the Chinese yuan to recover from some of its recent losses against the greenback over the next year on hopes that U.S.-China trade tensions and risks in emerging markets will ease.

A "temporary truce" between the U.S. and China is possible, Sim Moh Siong, a currency strategist at the Bank of Singapore, told the media Wednesday. That could pave the way for stabilization in the renminbi and "perhaps a bit of strengthening," he said, commenting on the poll.

The onshore Chinese yuan was at 6.9185 against the U.S. dollar while the offshore yuan traded at 6.921. The People's Bank of China had earlier set the midpoint for onshore trade at 6.9072 for the day.

In other markets

Markets in Taiwan were off for holiday

In Singapore, the Straits Times STI index dumped 35.12 points, or 1.1%, to 3,131.48

In Korea, the Kospi index shed 25.22 points, or 1.1%, to 2,228.61

In New Zealand, the NZX 50 slid 19.16 points, or 0.2%, to 9,050.82

In Australia, the ASX 200 inched up 8.74 points, or 0.1%, to 6,049.81