Hong Kong leader says no plan to ease property cooling measures

[HONG KONG] Hong Kong leader Leung Chun-ying said on Tuesday that there are no plans to ease the city's property cooling measures despite a downturn.

A series of government land sales have priced below expectations and Standard & Poor's is forecasting home prices to fall between 10 and 15 per cent this year.

Mr Leung's comments come days after Hong Kong property magnate and billionaire Li Ka-shing said the city's economy was in its worst condition in 20 years.