Shares of Wharf Holdings (HKEX: 00004) have fallen more than 4%. At the time of writing, the stock was down 4.42% to HK$20.72, with a turnover of HK$25.77 million.

The decline follows a report from Bank of America Securities, which noted that while China's new guidelines for outbound investment are not directly aimed at the real estate sector, they could increase the difficulty and cause delays in moving capital offshore. This may tighten liquidity in the Hong Kong market and dampen buyer price expectations, particularly affecting transactions for large-scale properties.

The bank anticipates that the pace of property price increases will slow for the remainder of the year. It maintains its forecast for a full-year price rise of around 10% but believes that more aggressive expectations, such as a 15% increase, are unlikely to materialize.

In light of these concerns, including worries about a slowdown in demand for high-end residential properties, Bank of America Securities has lowered its price target for Wharf Holdings by 9% to HK$26.