What time does the Vietnamese stock market open? Things investors need to know

Have you ever placed a trade outside trading hours and wondered why your order was delayed? Or received payments later than expected because you didn’t understand the T+0, T+1, T+2 mechanisms? These are common mistakes made by many new traders. To avoid “making things difficult for yourself,” you need to understand the stock market opening hours, order matching mechanisms, and settlement rules in Vietnam.

Vietnam Stock Market: three exchanges, three different time rules

Currently, Vietnam has 3 main stock exchanges: HOSE, HNX, and UpCom. Each exchange has slight differences in operating hours and order matching mechanisms. This is very important—if you don’t understand clearly, a 15-minute difference can affect asset prices when market events occur during trading halts.

The Vietnamese stock market has grown significantly in recent years, with nearly 1,600 listed companies and a total capitalization exceeding 4 quadrillion VND. Meanwhile, the derivatives market has also expanded strongly, with trading volume increasing 3.3 times annually.

What time does the stock market open? Details of trading hours on each exchange

HOSE: The largest underlying trading platform

HOSE opens from 9:00 AM to 3:00 PM, divided into 2 sessions with different phases:

• 8:45 - 9:00: Pre-market preparation
• 9:00 - 9:15: Opening periodic match (ATO) - only ATO and LO orders
• 9:15 - 11:30: Continuous matching - applies LO, MP, MOK, MAK, MTL
• 11:30 - 13:00: Lunch break (market pause)
• 13:00 - 14:30: Continued continuous matching - LO, MP, MOK, MAK, MTL
• 14:30 - 14:45: Closing periodic match (ATC) - ATC and LO orders
• 14:45 - 15:00: Negotiated matching - only negotiated trades
• 15:00: Fully closed

HNX: Secondary exchange

HNX also opens from 9:00 AM to 3:00 PM, but with differences: no opening periodic match (ATO), instead there is after-hours trading from 2:45 PM to 3:00 PM with PLO orders (Post-market LO):

• 9:00 - 11:30: Continuous matching - LO, MP, MOK, MAK, MTL
• 11:30 - 13:00: Lunch break
• 13:00 - 14:30: Continued continuous matching - LO, MP, MOK, MAK, MTL
• 14:30 - 14:45: Closing periodic match (ATC) - ATC and LO
• 14:45 - 15:00: After-hours trading - only PLO orders

UpCom: Unlisted stock market

UpCom is unique in that it has no periodic matching sessions (no ATO, no ATC), with a simpler mechanism:

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

Derivatives market opens 15 minutes earlier

An important detail many traders overlook: the derivatives market (VN30 Futures, 5Y Government Bond Futures) opens 15 minutes earlier than the underlying stock market.

• 8:45 - 11:30: Session I
• 11:30 - 13:00: Lunch break
• 13:00 - 14:45: Session II
• 14:45: Close

Settlement times: a confusing aspect you might not expect

Besides knowing what time the stock market opens, you also need to understand settlement rules to avoid cash flow issues. Depending on the security, settlement times vary:

• T + 0: Same-day settlement (rarely applied)
• T + 1: Settlement after 1 trading day (applies to bonds)
• T + 2: Settlement after 2 trading days (applies to stocks, fund certificates, ETFs)

Note: T+1 and T+2 do not count Saturdays, Sundays, and holidays. This means if you trade on Friday, the funds may not arrive until the following Monday.

Essential tips for effective trading

1. LO order is the “rice order” for new traders

If you’re just starting out and unfamiliar with different order types, use LO (Limit Order). This is the only order type that can be used throughout trading hours on all exchanges, helping you avoid unexpected surprises.

2. A 15-minute difference can change everything

Exchanges have different operating hours with a 15-minute gap. Although it seems minor, during volatile market conditions, this 15-minute difference can be the difference between profit and loss.

3. Never trade outside trading hours

Absolutely do not place orders outside the stock market’s open hours. Your orders will be delayed until the next session, causing you to lose advantage and potentially suffer losses if the market moves suddenly.

4. Consider settlement deadlines

Before trading, calculate whether you have enough capital to wait for T+2 settlement, especially if trading at the end of the week.

Understanding the trading hours and related rules is not a secret formula but a foundation for smart trading in the Vietnamese market.