Guohao maintained the selling rating of the American Union Group (1200.HK), with a target price of HK$3.40. Guohao Capital said that rising mortgage interest rates will impact real estate brokerage business. Standard Chartered (2888.HK) announced an increase in mortgage interest rates on Friday. Guohao Capital said that this move should not surprise market participants and will encourage more banks to follow suit. According to data from the Hong Kong Land Registry, the number of real estate sales transactions in October fell to 5,675, with a monthly average of 13,562 in 2010, 11,724 in the first half of 2011, and 7,073 in the third quarter of 2011. Guohao Capital believes that the second largest real estate brokerage company in Hong Kong, the United Group, will face losses in the second half of 2011. The Associated States Group fell 1.4% throughout the day to close at HK$3.61.