Stock Investment Guide: Understand the Trading Hours on Vietnamese Exchanges

2025-12-26 11:14:31

Vietnam currently has three main stock exchanges: HOSE, HNX, and UpCom, each operating on different schedules. When placing orders outside of trading hours, your transactions will not be matched immediately but will be carried over to the next trading session. This directly impacts buy and sell prices because market events during trading halts can change asset valuations. Therefore, understanding the trading hours of the stock market is essential knowledge that every investor must master.

Current Stock Market in Vietnam

After 20 years of development, Vietnam’s stock market has made significant progress. From just two initial stocks (REE and SAM), it now lists thousands of stocks, indices, and ETF products. The main market has 1,600 listed companies with a total capitalization of 4 quadrillion VND (approximately 171 billion USD). The derivatives market, although only three years old, has seen trading volume increase 3.3 times annually and has become an effective risk management tool. To maximize investment profits, it is crucial to understand the trading hours and order matching mechanisms of each exchange.

Trading Schedule for the Main Market on HOSE

HOSE operates from Monday to Friday, closed on Saturdays, Sundays, and holidays. Annually, HOSE has about 250 trading days.

Detailed Trading Hours:

Opening session (9:00-9:15): Applies for periodic matching orders ATO and negotiated orders LO. This is the opening auction period.

Morning session (9:15-11:30): Continuous trading with LO, MP, MOK, MAK, MTL orders along with negotiated orders.

Lunch break (11:30-13:00): Market is closed, no trading.

Afternoon session (13:00-14:30): Continues with continuous trading similar to the morning session.

Closing session (14:30-14:45): Periodic matching ATC combined with negotiated orders LO.

End of day (14:45-15:00): Only negotiated trading is allowed; then the market closes.

Bond trading occurs from 9:00-11:30 and 13:00-15:00 via negotiated method.

Trading Schedule for the Main Market on HNX

HNX operates on a schedule similar to HOSE but with key differences:

Main differences:

HNX does not have a periodic opening auction (ATO) like HOSE.
Instead, HNX offers a post-market session from 14:45-15:00 with PLO (Parity Limit Order).

Detailed Schedule:

Morning (9:00-11:30) and afternoon (13:00-14:30): Continuous trading with LO, MP, MOK, MAK, MTL orders.

Closing session (14:30-14:45): Periodic matching ATC with LO orders.

Post-market trading (14:45-15:00): Only PLO orders are accepted, giving investors additional opportunities to adjust their positions.

Trading Schedule for UpCom

UpCom differs from HOSE and HNX in that it does not have any periodic matching sessions (no ATO and ATC).

Trading hours:

Morning (9:00-11:30) and afternoon (13:00-15:00): Only continuous trading with LO, MP, MOK, MAK, MTL orders along with negotiated orders. This structure helps UpCom maintain flexibility for small and newly listed stocks.

Settlement Times for Securities

In addition to trading hours, settlement times are also important to avoid cash flow issues:

Settlement milestones:

T+0: Payment is made on the same day as the successful trade.
T+1: Settlement occurs one business day after the trade date (excluding holidays and weekends).
T+2: Settlement occurs two business days after the trade date (excluding holidays and weekends).

Bonds settle on T+1. Main products like stocks, closed-end fund certificates, and ETFs settle on T+2. Note that if the trade occurs on a Friday, the T+2 payment will be received on the following Tuesday.

Derivatives Trading Hours

Vietnam’s derivatives market currently offers two main products: VN30 index and 5-year Government Bond Futures.

Derivatives trading hours:

Morning session (8:45-11:30): Starts 15 minutes earlier than the main market, allowing investors to price ahead of the main session.

Break (11:30-13:00): Same as the main exchanges.

Afternoon session (13:00-14:45): Ends 15 minutes earlier than the main market.

Important Notes for Investors

Managing trading time: HOSE, HNX, and UpCom have slight differences in their schedules (about 15 minutes), but each schedule applies different order types with their own priority. If you are a beginner individual investor, LO (Limit Order) is a safe choice for continuous trading during market hours.

Plan your settlement: Settlement times vary depending on the asset type and can be extended if trading occurs near the weekend. Plan your cash flow in advance to avoid capital shortages.

Choose the right exchange: If you trade large-cap stocks, HOSE is the top choice. For small-cap stocks, HNX or UpCom may be more suitable. Understanding the trading hours and specific features of each exchange will help optimize your investment strategy.

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