KUALA LUMPUR (Oct 29): The positive sentiment on Wall Street has spilled over to Asia, where most markets opened higher this morning, following S&P 500 Index hiting a record high of 3,039.42 points on Monday which was mainly fuelled by greater-than-expected corporate earnings.

On the local front, the FBM KLCI opened marginally higher at 1,573.16 points after the long weekend break for Deepavali celebration. In the absence of buying impetus, the local bourse is expected to be in sideways trend in the holiday-shortened week.

Meanwhile, the local stock market’s attention will switch to corporate earnings. Companies are expected to release the financial report for the quarter ended Sept 30 starting next month. After several quarters of disappointing financial results, the investing fraternity does not pin high hopes on the earnings figures, according to analysts.

As at 9.45am, Yong Tai Bhd is the most actively traded stock with 45.9 million shares changing hands after the opening bell, followed by Velesto Energy Bhd with 37.5 million shares traded and Green Packet Bhd’s Warrant B with 26.6 million units changing hands.

Yong Tai’s share price rebounded from an all-time low of 17 sen, trading at 20 sen, up one sen. Velesto was 0.5 sen higher at 37 sen and Green Packet Warrant B is unchanged at 34 sen.