Here's where sovereign wealth funds are moving their money to

New home prices in China rose 10.4 percent in May from a year ago compared to a gain of 10.7 percent in April, according to calculations from Reuters, with one analyst suggesting demand remains robust, for now, despite cooling measures.

Despite cooling measures by the Chinese government to moderate property prices, market sentiment is still robust, said an analyst.

"Tightening is (a) top-down (effort) but on the ground, buyer's sentiment is very strong, that's why it takes a bit longer to pull this market off (its peak)," said Alan Jin, Asia ex-Japan analyst at Mizuho Securities Asia.