Housing prices in major Chinese cities rose 11.4 percent year on year in June, one percentage point lower than the increase in May, the National Bureau of Statistics (NBS) said Monday.

Home prices in 70 large and medium-sized Chinese cities rose by 12.4 percent year-on-year in May, the National Bureau of Statistics (NBS) said in a statement Thursday.

The government has signaled that it will "gradually" levy tax on holding of property.

Chinese equities plunged on Monday in what analysts described was panic selling as investors dumped shares in the domestic A-share market.

Gold stocks on the A-share market are likely to shine amid the soaring gold price buoyed by increasing demand from investors who are seeking a refuge in the yellow metal, analysts said.
Gold flies to record as investors seek safety