What Time Does the Vietnamese Stock Market Open and What Investors Need to Know

If you are an investor in Vietnam, the first question that needs to be answered is: what time does the stock market open? The answer is not as simple as you might think, because Vietnam has 3 main trading floors (HOSE, HNX, Upcom) and each has its own operating hours. This is important because trading outside the designated hours will lead to unfilled orders, delays until the next session, directly affecting the prices you can receive.

Operating Hours of the Three Vietnamese Stock Exchanges

Before going into details, it’s important to understand that all three basic exchanges (HOSE, HNX, Upcom) operate from Monday to Friday. On Saturdays, Sundays, and public holidays, the exchanges are completely closed. On average, investors have about 250 days per year to conduct their transactions.

What time does the stock market open? The most accurate answer is from 9:00 AM (local time GMT +7) to 3:00 PM. However, the derivatives market (CKPS) starts 15 minutes earlier, at 8:45 AM, allowing investors to trade VN30 indices and 5-year Government Bond Futures within a broader window.

Detailed Trading Hours Structure by Each Exchange

HOSE - The Most Comprehensive Trading Hours

From 9:00 to 9:15, HOSE conducts a periodic opening auction (ATO) with ATO and LO orders. This is an important opening phase where orders from the previous day are processed. Next, from 9:15 to 11:30, the market switches to continuous trading with more diverse order types (LO, MP, MOK, MAK, MTL). During midday, from 11:30 to 13:00, the exchange pauses trading for lunch — a critical period when events can occur that influence prices.

In the afternoon, from 13:00 to 14:30, continuous trading resumes with similar order types as in the morning. Finally, from 14:30 to 14:45, HOSE performs a closing periodic auction (ATC) before officially ending that trading session.

HNX - Similar but with Exceptions

HNX operates on a schedule similar to HOSE but with a notable difference: there is no periodic opening auction (ATO). Instead, the exchange begins directly with continuous trading from 9:00 AM. However, HNX compensates for this by adding a late session from 14:45 to 15:00 with PLO orders, giving investors an additional chance to execute final trades of the day.

Upcom - The Simplest Trading Method

Upcom differs clearly from the other two exchanges because it has no periodic auction (ATO or ATC). This exchange only applies continuous trading and negotiated orders throughout its operating hours. Specifically, from 9:00 to 11:30 is the morning session, then a break from 11:30 to 13:00, followed by trading from 13:00 to 15:00. Upcom serves companies listed on UPCoM and startups, often more suitable for small and medium enterprises.

Development History of the Vietnamese Stock Market

To understand the importance of knowing what time the stock market opens, it’s helpful to look back at its development. Over the past 20 years, the Vietnamese stock market has grown from a modest start (initially with only 2 stocks REE and SAM) to a market with over 1,600 listed companies, with a total market capitalization reaching 4 quadrillion VND (about 171 billion USD).

The derivatives market, although only operating for 3 years, has shown impressive growth with trading volume increasing 3.3 times annually, affirming its role as an effective investment and risk management tool.

Settlement Time - An Equally Important Factor

Besides knowing what time the stock market opens, investors should also pay attention to the settlement period after successful transactions. The Vietnamese stock settlement system is divided into three milestones:

• T + 0: Same-day settlement
• T + 1: Settlement after 1 trading day (excluding Saturdays, Sundays, and holidays)
• T + 2: Settlement after 2 trading days (excluding Saturdays, Sundays, and holidays)

Bonds settle in T + 1, while stocks, closed-end fund certificates, and ETF certificates follow T + 2. Understanding these timelines helps you avoid cash flow issues, especially when transactions occur at the end of the week.

Important Notes for Individual Investors

Although the three exchanges have about a 15-minute difference in operating hours, each time slot has its own order types and priority rules. For new individual investors, the LO (Limit Order) is the safest choice because it can be used continuously during trading hours to buy or sell securities without being limited by complex requirements.

Mastering the trading hours and structure of the stock market is the foundation for making smart investment decisions. Any mistake regarding timing can lead to undesirable consequences in prices or order matching capabilities.