Complete guide to the trading session duration in Vietnam's stock market

When entering the stock trading world, one of the most important things that any trader must understand is the trading session time. The reason is simple: if you place an order outside the designated hours, it will not be executed immediately but will have to wait until the next trading session. This can cause significant price fluctuations, as many events that can affect asset value may occur during the trading halt. Therefore, understanding the timing of a stock trading session is not only theoretical knowledge but also a vital skill to avoid unnecessary losses.

Vietnamese Stock Market: From Seed to Tree

Over nearly two decades of development, the Vietnamese stock market has made remarkable progress. From just 2 initial stocks (REE and SAM), today it has expanded to thousands of stocks, indices, and ETFs. The underlying stock market currently has about 1,600 listed companies, with a total market capitalization of up to 4 quadrillion VND (equivalent to 171 billion USD).

A bright spot is the derivatives market, which, although only operating for 3 years, has recorded a trading volume growth of up to 3.3 times annually, becoming an effective tool for investors seeking risk management.

Anyone wanting to leverage the Vietnamese market must understand the trading session times as well as how orders are matched on each exchange.

Regular Stock Trading Hours: When Can You Buy and Sell?

The three exchanges—HOSE, HNX, and Upcom—share a common schedule: from Monday to Friday, closing on Saturday, Sunday, and holidays. The trading floor opens at 9:00 AM and closes at 3:00 PM (local time GMT +7). On average, there are about 250 trading days per year.

###Details of trading hours on HOSE

HOSE applies the most detailed schedule with periodic matching sessions:

For stocks, fund certificates, ETFs:

• 9:00 - 9:15: Opening session (ATO, LO) - Periodic matching
• 9:15 - 11:30: Continuous trading (LO, MP, MOK, MAK, MTL)
• 11:30 - 13:00: Lunch break
• 13:00 - 14:30: Continuous trading (LO, MP, MOK, MAK, MTL)
• 14:30 - 14:45: Closing session (ATC, LO) - Periodic matching
• 14:45 - 15:00: Negotiated matching

For bonds:

• 9:00 - 11:30: Negotiated trading
• 11:30 - 13:00: Lunch break
• 13:00 - 15:00: Negotiated trading
• 15:00: Close

###Details of trading hours on HNX

HNX has a similar process to HOSE but differs in some points:

• No opening periodic matching session (ATO)
• Additional after-hours trading from 14:45 - 15:00 with PLO orders

Specifically:

• 9:00 - 11:30: Continuous matching (LO, MP, MOK, MAK, MTL)
• 11:30 - 13:00: Lunch break
• 13:00 - 14:30: Continuous matching (LO, MP, MOK, MAK, MTL)
• 14:30 - 14:45: Periodic matching (ATC, LO)
• 14:45 - 15:00: After-hours trading (PLO)

###Details of trading hours on Upcom

Upcom is the simplest, with no periodic matching sessions:

• 9:00 - 11:30: Continuous matching (LO, MP, MOK, MAK, MTL)
• 11:30 - 13:00: Lunch break
• 13:00 - 15:00: Continuous matching (LO, MP, MOK, MAK, MTL)

Derivatives Trading Session Times: Opens Earlier, Closes Simultaneously

Vietnam’s derivatives market currently has two main products: VN30 index and 5-year Government Bond Futures. Notably, the derivatives market opens 15 minutes earlier than the underlying stock market:

• 8:45 - 11:30: Morning trading session
• 11:30 - 13:00: Lunch break
• 13:00 - 14:45: Afternoon trading session

Quick Summary Table: Trading Hours on the Three Exchanges

Settlement Time: When Will Funds Arrive in Your Account?

When a trade is successful, you do not receive the money immediately. Instead, each asset type has its own settlement period, divided into 3 points:

• T + 0: Transaction date
• T + 1: 1 day after the transaction (excluding Saturdays, Sundays, holidays)
• T + 2: 2 days after the transaction (excluding Saturdays, Sundays, holidays)

Application:

• Bonds: T + 1
• Stocks, closed fund certificates, ETFs: T + 2

This means if you sell stocks on Friday, the money will arrive on the following Monday (excluding Saturday, Sunday). Therefore, plan carefully to avoid cash flow issues, especially if you need funds urgently.

Practical Advice for Vietnamese Traders

Choose the right order type: If you are a beginner trader, LO orders are the safest choice because they can be used throughout the trading session.

Understand priority order: Each trading time slot has different order types with different priority rules. To get your order matched quickly, choose the right time and order type.

Plan your settlement: Since settlement times can extend if it falls on weekends, plan your finances accordingly. Do not assume the settlement money is immediately available.

Remember the stock trading session times: Master the trading hours on each exchange to maximize investment opportunities and avoid costly mistakes caused by placing orders outside trading hours.

In summary, a stock trading session time is not just a number on the calendar but a crucial factor that determines the success or failure of each trade. Take the time to truly understand these rules before starting.