Equities may 'extend losses' in weeks ahead

China's stocks may extend losses in "coming weeks" as the Shanghai Composite Index runs into resistance at a moving average, according to CIMB Investment Bank Bhd.

The 200-day moving average of 3021 was previously a major support level for the benchmark gauge, CIMB analysts Nigel Foo and Kong Seh Siang wrote in a report yesterday.

The index also faces resistance at its 50-day moving average of 3139 and its triangle support-turned-resistance line at the 3175 to 3180 level, the analysts said.