<p>美银证券发布报告指出，尽管大陆新的境外投资指引并未直接针对房地产行业，但可能会增加资本外流的难度和延迟，潜在地收紧香港市场的流动性，并抑制买家的价格预期，特别是对大宗物业交易的影响。报告预计，年内房价增长将放缓。它维持全年房价约 10% 的增长预测，但认为 15% 或更激进的增长不太可能实现。</p>
<p>针对上述不确定性，券商下调了三只香港房地产股票的目标价。新鸿基地产（00016.HK）的目标价下调 6% 至 136 港元，以反映高端住宅需求的不确定性，当前股价为-4.100（-3.206%），空头头寸为 1.2797 亿港元，比例为 19.869%。九龙仓集团（00004.HK）的目标价因对高端住宅需求放缓的类似担忧下调 9% 至 26 港元，当前股价为-1.160（-4.911%），空头头寸为 472 万港元，比例为 21.361%。恒隆地产（00101.HK）的目标价下调 14% 至 9.5 港元，以反映大陆奢侈消费的近期放缓，当前股价为-0.140（-1.750%），空头头寸为 1632 万港元，比例为 37.370%。</p>
<p>券商继续看好估值吸引且更具防御性的物业投资，维持对领展房产基金（00823.HK）的买入评级，当前股价为-0.280（-0.714%），空头头寸为 4914 万港元，比例为 30.084%；以及对太古地产（01972.HK）的买入评级，当前股价为-0.260（-1.146%），空头头寸为 321 万港元，比例为 13.563%。在防御性开发商中，券商更青睐信和置业（00083.HK），当前股价为-0.220（-1.863%），空头头寸为 1740 万港元，比例为 41.297%；以及长江实业（01113.HK），当前股价为-1.380（-2.887%），空头头寸为 2613 万港元，比例为 28.982%。券商对新世界发展（00017.HK）和港铁公司（00066.HK）维持表现不佳评级，分别因高杠杆和巨额资本支出引发担忧，当前股价分别为-0.170（-2.120%）和-0.180（-0.570%），空头头寸分别为 682 万港元和 2387 万港元，比例分别为 24.298% 和 43.941%。(广告/数据)(香港股票报价延迟至少 15 分钟。空头数据截至 2026-06-03 12:25。)</p>

九龙仓集团(ADR)

领展房产基金

恒隆地产

太古地产

九龙仓集团

新鸿基地产

<p>BofAS 下调了新鸿基地产、九龙仓集团和恒隆地产的目标价格，原因是政策不确定性抑制了香港高端住宅需求。该券商预计房价增长将放缓，维持全年 10% 的预测，但排除了激进的上涨可能性。在下调这三只股票的目标价格的同时，BofAS 对领展房产基金和太古地产维持买入评级，偏好具有吸引力估值的防御性投资</p>

<p>BofAS published a report noting that although the mainlands new outbound investment guidelines are not directly targeting the property sector, they may increase the difficulty and delay of capital outflows, potentially tightening liquidity in the Hong Kong market and suppressing buyers price expectations, particularly affecting transactions of large-value properties. The report expects home price growth to moderate for the remainder of the year. It maintains its forecast of about 10% growth in full-year home prices, but believes that a 15% or more aggressive increase is unlikely to materialize.</p>
<div class="lb-trans"><p>美银证券发布报告指出，尽管大陆新的境外投资指引并未直接针对房地产行业，但可能会增加资本外流的难度和延迟，潜在地收紧香港市场的流动性，并抑制买家的价格预期，特别是对大宗物业交易的影响。报告预计，年内房价增长将放缓。它维持全年房价约 10% 的增长预测，但认为 15% 或更激进的增长不太可能实现。</p>
</div><p>In response to the above uncertainties, the broker lowered the target prices of three Hong Kong property stocks. The TP of SHK PPT (00016.HK) -4.100 (-3.206%)  Short selling $127.97M; Ratio 19.869%  was cut by 6% to HKD136 to reflect uncertainties in high-end residential demand. The new TP is based on a 40% discount to net asset value, with a Neutral rating maintained. The TP of WHARF HOLDINGS (00004.HK) -1.160 (-4.911%)  Short selling $4.72M; Ratio 21.361%  was reduced by 9% to HKD26 on similar concerns over slowing high-end residential demand, with a Neutral rating maintained. The TP of HANG LUNG PPT (00101.HK) -0.140 (-1.750%)  Short selling $16.32M; Ratio 37.370%  was lowered by 14% to HKD9.5 to reflect the recent slowdown in luxury consumption in the mainland, while a Buy rating was maintained.</p>
<div class="lb-trans"><p>针对上述不确定性，券商下调了三只香港房地产股票的目标价。新鸿基地产（00016.HK）的目标价下调 6% 至 136 港元，以反映高端住宅需求的不确定性，当前股价为-4.100（-3.206%），空头头寸为 1.2797 亿港元，比例为 19.869%。九龙仓集团（00004.HK）的目标价因对高端住宅需求放缓的类似担忧下调 9% 至 26 港元，当前股价为-1.160（-4.911%），空头头寸为 472 万港元，比例为 21.361%。恒隆地产（00101.HK）的目标价下调 14% 至 9.5 港元，以反映大陆奢侈消费的近期放缓，当前股价为-0.140（-1.750%），空头头寸为 1632 万港元，比例为 37.370%。</p>
</div><p>The broker continues to favor landlords with attractive valuations and more defensive property plays, maintaining Buy ratings on LINK REIT (00823.HK) -0.280 (-0.714%)  Short selling $49.14M; Ratio 30.084%  and SWIREPROPERTIES (01972.HK) -0.260 (-1.146%)  Short selling $3.21M; Ratio 13.563%  . Among defensive developers, it prefers SINO LAND (00083.HK) -0.220 (-1.863%)  Short selling $17.40M; Ratio 41.297%  and CK ASSET (01113.HK) -1.380 (-2.887%)  Short selling $26.13M; Ratio 28.982%  . It maintains Underperform ratings on NEW WORLD DEV (00017.HK) -0.170 (-2.120%)  Short selling $6.82M; Ratio 24.298%  and MTR CORPORATION (00066.HK) -0.180 (-0.570%)  Short selling $23.87M; Ratio 43.941%  , citing concerns over high leverage and sizable capital expenditure, respectively. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-03 12:25.)</p>
<div class="lb-trans"><p>券商继续看好估值吸引且更具防御性的物业投资，维持对领展房产基金（00823.HK）的买入评级，当前股价为-0.280（-0.714%），空头头寸为 4914 万港元，比例为 30.084%；以及对太古地产（01972.HK）的买入评级，当前股价为-0.260（-1.146%），空头头寸为 321 万港元，比例为 13.563%。在防御性开发商中，券商更青睐信和置业（00083.HK），当前股价为-0.220（-1.863%），空头头寸为 1740 万港元，比例为 41.297%；以及长江实业（01113.HK），当前股价为-1.380（-2.887%），空头头寸为 2613 万港元，比例为 28.982%。券商对新世界发展（00017.HK）和港铁公司（00066.HK）维持表现不佳评级，分别因高杠杆和巨额资本支出引发担忧，当前股价分别为-0.170（-2.120%）和-0.180（-0.570%），空头头寸分别为 682 万港元和 2387 万港元，比例分别为 24.298% 和 43.941%。(广告/数据)(香港股票报价延迟至少 15 分钟。空头数据截至 2026-06-03 12:25。)</p>
</div>

BofAS Cuts TP on SHK PPT  and WHARF HOLDINGS on Policy Uncertainty Weighing on High-end Residential Demand

AASTOCKS News

信和置业

长实集团

新世界发展

港铁公司

新鸿基地产-R

美银证券因政策不确定性对高端住宅需求的影响，下调了新鸿基地产和九龙仓集团的目标价