Share prices on Bursa Malaysia closed lower yesterday with the key index failing to a near 3 month low due to persistent selling in select heavyweights dealers said.

They said a sharp fall in the regional markets, extended overnight losses on Wall Street and growing concern over political developments in the country dampened market sentiment.

At 5pm the benchmark fell 16.20 points or 1.34% to close at 1,196.39. A dealer said Sabah Progressive Party’s plan to table a no-confidence motion against the prime minister spurred persistent selling in the market. - Bernama

While share price om Bursa Malaysia closed on a mixed note yesterday solid gains on key haevyweigt Maybank push up the bechmark Composite Index (CI) to anew all time high said dealers.

The CI closed at 1,489.74 up 18.97 points after opening 1.04 points higher at 1,471.81 in the morning. It also recorded an intra–day recird high of 1,489.87. Profit taking on key plantations, However prevented the CI from breaching the 1,490 points level some dealers said.

If the interest is sustained, the CI could breach the 1,500 level not letter then this week.

Unit trusts are a form of collective investment scheme, which pools money from many investors who share the same financial objectives. Unit trusts are long-term investment vehicles most suited to investors who are in pursuit of potential long-term capital growth and able to tolerate volatile short-term fluctuations in prices. This pool of money is managed by professional Fund Managers in:

a. Securities of companies listed in Bursa Malaysia
b. Bonds and other fixed interest securities
c. Cash and money market instruments