China’s Big Stock Market Rally Is Being Fueled by High-School Dropouts: Survey

• The survey was conducted at the end of 2014, headed by Professor Li Gan of Southwestern University of Finance and Economics, Bloomberg reports.
• Covers some 4,000 households across the country
• Finds that the biggest new investors in China's equity markets have below a high school education and relatively low levels of asset ownership
• More than two thirds of new equity investors exited the education system by middle school - which in China means around the age of 15
• More than 30 percent exited at age 12 or below
• Household wealth for new investors is about half the level of existing investors
• The new survey data adds to the impression of a rally fueled by inexperienced retail investors. 

Read full story at Bloomberg