After months of dismal news, investors at Vietnam ’s two main stock exchanges are daring to believe in a brighter future.

On June 16, the Ho Chi Minh City Stock \Exchange’s VN-Index rose a remarkable 5.52 points, or 1.48 percent, to close at 378.2 points. This follows rises in the previous two trading sessions.

Over 12.6 million shares were traded, with a total capital of 433.4 billion VND (27.08 million USD), during the day’s sessions.

More than 136 stocks gained in value, 17 hit their floor prices and two remained unchanged. Foreign investors bought 1.8 million shares and sold over 2.2 million.

Unexpectedly, a number of blue chip companies, such as the Sai Gon Thuong Tin Commercial Bank (STB) and Sai Gon Securities Inc (SSI), saw their shares rise in value after a sustained period of decline.

Optimism concerning the domestic stock market remains guarded, however, despite the positive mood generated by three consecutive sessions of growth.

It is still too soon to predict whether the VN-Index has begun a period of stable recovery or whether the past three days were merely a blip.

Hanoi ’s HASTC Index also had a good day on June 16, rising 2.72 points, or 2.45 percent, to finish on 113.81 points. Over 3.34 million shares changed hands, totalling more than 86.6 billion VND (5.25 million USD).

As the stock markets flickered into life, representatives of the State Securities Commission, the HCM City Stock Exchange, foreign investment funds and a number of Vietnam ’s largest listed companies, met to discuss ways to stimulate domestic markets.

Discussions concentrated on the macroeconomic factors and investor sentiment that are causing or contributing to the domestic markets’ recent woes.