* Australian shares touch highest level since Oct. 27
* Healthcare stocks lead gains on main index
* Treasury Wines shares slump on China tariff woes
By Pranav A K
Nov 5 (Reuters) - Australian shares tracked Wall Street's gains to hit a more than one-week high on Thursday as investors hoped a Joe Biden presidency and a divided Congress would make the Democratic agenda of tough financial regulations unlikely, boosting stocks.
The S&P/ASX 200 index .AXJO rose 0.8% to 6,111.9 by 0027 GMT.
"There's potential for more volatility ahead with the elections, but if the Democrats are not going to get the Senate, then it may be more positive for markets with some of the plans they were coming with," said IC Markets General Manager Nick Twidale.
U.S. stocks surged overnight as President Donald Trump's win in the major battleground state of Florida led investors to believe a Democratic Party-led Congress was not on the cards even if Joe Biden wins the presidency. .N Australian healthcare index .AXHJ gained 2.8% and was the biggest boost to the benchmark. Domestic healthcare firms rely heavily on exports to the United States and benefit from a weakness in the Australian dollar.
Heavyweight CSL Ltd CSL.AX climbed 2.7% to a more than two-week high, while ASX-listed shares of California-based ResMed RMD.AX added 2.3%.
Elsewhere, Treasury Wine Estates TWE.AX tumbled 7.4% after the world's largest listed winemaker disclosed on Wednesday that a Chinese drinks group requested tariffs on Australian wine. Australia Bank NAB.AX rose 1.2% despite posting a slide in annual profit as analysts cheered a better margin performance than peers and strong common equity Tier 1 position. local mining index .AXMM fell 0.6% after Chinese iron ore futures DCIOcv1 slid 1.2%, while technology stocks .AXIJ jumped 1.7%, tracking the tech-heavy Nasdaq Composite's .IXIC solid finish overnight.
Poultry producer Inghams Group Ltd ING.AX jumped 12.3% and was the top gainer on the benchmark.
New Zealand's benchmark S&P/NZX 50 index .NZ50 gained 0.6% to 12,267.1 and was set for a third straight day of gains.