KUALA LUMPUR (Nov 8): The FBM KLCI rose 6.32 points or 0.37% to settle at 1,721.20, as Asian shares tracked US equities' post-election gains.

Reuters reported Wall Street's main indexes rose more than 2% overnight on Wednesday, led by the technology and healthcare sectors, as the market breathed a sigh of relief after the U.S. midterm elections, in which the Democrats wrested control over the House of Representatives, whilst the Republicans retained the Senate.

It was reported Asian stocks rose to a one-month peak on Thursday, as investors — relieved to have moved past the U.S. midterm elections without any major political surprises — drove a Wall Street rally, while the dollar bounced and pulled away from 2-1/2-week lows. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5%.

In Malaysia, Hong Leong Investment Bank Bhd head of retail research Loui Low wrote in a brief today: "Tracking the positive overnight Wall Street performance, we anticipate that the buying support could spillover towards stocks on the local (Malaysia) front, refocusing on those bashed down and oversold stocks earlier on. Meanwhile, budget beneficiaries such as insurance and healthcare-related may sustain its move over the near term."

"We may anticipate the FBM KLCI to perform a flag formation breakout, targeting 1,730. Meanwhile, support will be pegged around 1,690- 1,700," Low said.