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    Millions of investors who had never so much as opened a trading account before have been piling into the market. In the U. That pattern has been repeated in Europe with brokerages in Germany, the U.

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    And while the names may be less familiar, the same picture appears across countries in Asia that imposed lockdowns. Some are loading up on debt and leverage to buy more shares. Meanwhile, India has seen 1. Two decades of underperformance instilled habits that propelled investors to try to sell at the top.

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    Yet that attitude could at last be shifting. Japanese individuals opened more thanonline brokerage accounts between February and April, more than double the number in the same period in Bloomberg A year-old Japanese housewife, who had long watched her husband and parents buy stocks and get gifts typical for shareholders, never before found the right time to start buying herself.

    In a regular survey this month of retail investors by Monex Group Inc.

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    The question turns to whether these investors will cut and run during the next dip, or learn new ways to succeed. In China, interest has waned somewhat. A surge of account openings in March and April coincided with lockdowns throughout the country, but May figures were more muted.

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    China has already had a considerable instilled in trading investor presence, with the lockdown stock boom paling in comparison to some recent share rallies.