HSBC’s Wong Says Hong Kong Could Wait on Home Curb Review

Hong Kong’s government could hold off on changing its curbs on the housing sector and take “some time” for an evaluation as prices haven’t declined sharply, Peter Wong, HSBC Holdings Plc (HSBA)’s Asia Pacific head told reporters in the city today.

The city’s banking system won’t be much affected unless there’s a severe fall in home prices, Wong said.

Hong Kong will ease some of its property-cooling measures if home prices extend their decline amid Europe’s worsening credit crisis and a global economic slowdown, John Tsang, the city’s financial secretary, said Dec. 6. Prices are slowly coming down, and the government is seeking to achieve a “soft landing,” Tsang said.

To contact the reporter on this story: Stephanie Tong in Hong Kong at stong17@bloomberg.net

To contact the editor responsible for this story: Hwee Ann Tan at hatan@bloomberg.net

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