Secure Stock Trading Schedule to Optimize Investment Strategies in 2022

2025-12-26 10:56:19

Have you ever experienced delays in your buy/sell orders due to executing outside trading hours? This is a common mistake made by many investors. In Vietnam, there are three main stock exchanges: HOSE, HNX, and Upcom, along with numerous international exchanges such as NYSE, NASDAQ, JPX, LSE, SSE… Each exchange has its own trading hours. If you are not familiar with these rules, your trading value could be significantly affected, especially when global events occur during market closures.

Vietnamese Stock Market: From Beginnings to Today

After 20 years of development, the Vietnamese stock exchange has transformed from having just 2 initial stocks (REE and SAM) into a vibrant market with thousands of listed codes. Currently, the main stock market has about 1,600 registered companies, with a total capitalization of up to 4 quadrillion VND (equivalent to 171 billion USD).

Notably, the derivatives market, although still young (only 3 years old), has shown strong growth with trading volume increasing 3.3 times per year. To seize these opportunities, the first step is to understand how it operates, especially the trading schedule and order matching rules.

Details of the Main Stock Market Trading Hours

All three exchanges—HOSE, HNX, and Upcom—apply the same trading schedule from Monday to Friday, from 9:00 AM to 3:00 PM (Vietnam Time - GMT +7). Trading is not conducted on Saturdays, Sundays, or public holidays. On average, the Vietnamese stock market operates about 250 days a year.

###HOSE: Trading Hours and Order Types

HOSE has a trading structure divided into several sessions:

Opening Session (9:00 - 9:15): Periodic matching ATO or LO, including negotiated orders
Morning Session (9:15 - 11:30): Continuous matching with order types LO, MP, MOK, MAK, MTL
Break (11:30 - 13:00)
Afternoon Session (13:00 - 14:30): Continuous matching, same order types as the morning session
Closing Session (14:30 - 14:45): Periodic matching ATC
Negotiated Transactions (14:45 - 15:00)

For bonds on HOSE, negotiated transactions occur from 9:00 - 11:30 and 13:00 - 15:00.

###HNX: Slight Differences but Important

HNX has similar trading hours to HOSE but with some differences:

No opening session with periodic matching (ATO)
An additional after-hours trading session from 14:45 - 15:00 with PLO orders
Main operating hours remain the same: 9:00 - 11:30, 13:00 - 14:30

###Upcom: Simpler

Upcom differs in that it does not use periodic matching sessions (no ATO and ATC). Instead, all trading hours from 9:00 - 11:30 and 13:00 - 15:00 apply continuous matching with order types LO, MP, MOK, MAK, MTL.

Derivatives Market Trading Hours: Interesting Differences

The Vietnamese derivatives market currently offers two main products: VN30 index and 5-year Government Bond Futures. Notably, this market opens 15 minutes earlier than the main market:

Session I: 8:45 - 11:30
Break: 11:30 - 13:00
Session II: 13:00 - 14:45

This structure allows investors additional trading opportunities before the main market opens.

Settlement Times: A Critical Factor

Not only trading hours but settlement times are also crucial to avoid cash flow issues. The settlement timeframes are calculated as follows:

T + 0: Settlement on the same successful trading day
T + 1: Settlement after 1 trading day (excluding holidays, Saturdays, Sundays)
T + 2: Settlement after 2 trading days (excluding holidays, Saturdays, Sundays)

Bonds have a settlement time of T + 1, while stocks, closed-end fund certificates, and ETFs are settled on T + 2.

Practical Tips for Investors

The approximately 15-minute difference between exchanges can create opportunities or risks depending on how you manage it. If you are a beginner individual investor, focus on LO orders as they are the only order type that can be used continuously throughout trading hours.

Additionally, carefully consider settlement times, especially when trading at the end of the week. These factors directly impact your capital management and subsequent trading activities. Mastering the trading schedule not only helps you avoid time-wasting mistakes but also gives you a competitive edge in the market.

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