Brian Leung

Brian Leung, CFAExective Director, Research DepartmentT: 852-2872 2060F: 852-2872 2102E-mail: leungb@cicc.com.cn

CICC research department managing director Brian Leung said mainland financial counters continue to remain the top pick on the buy lists of investors, although shares are trading at high earnings multiples.

"The current market valuation is not cheap compared with recent years."

Leung describes the recent A-share market correction as a short-term adjustment.He remains confident in the long-term performance of equities.

Leung expects the benchmark Shanghai Composite Index to rise to between 3,300 points and 3,400 points this year, with financial, consumer and telecom sectors outperforming the market.