Understand the stock trading hours to optimize your investment strategy

Every investor who wants to succeed in the Vietnamese stock market needs to understand the basic operating rules. One of the most important factors is mastering the trading hours, as orders placed outside the designated times will be postponed to the next session, directly affecting the actual buying and selling prices.

How has the Vietnamese stock market developed?

After 20 years of operation, the Vietnamese stock system has established a significant investment foundation. The underlying market currently includes 1,600 listed companies, with a total capitalization of 4 million trillion VND (approximately 171 billion USD). Additionally, the derivatives market has only been active for 3 years but has recorded a trading volume growth rate of up to 3.3 times annually.

Vietnam has 3 main stock exchanges: HOSE, HNX, and Upcom. These are the venues for buying and selling activities from Monday to Friday, with about 250 trading days each year.

What are the trading hours on each exchange?

HOSE Exchange

On the HOSE exchange, the underlying securities (stocks, fund certificates, ETFs) operate according to the following schedule:

• 8:45 - 9:00: Pre-market, not officially open
• 9:00 - 9:15: Opening auction session (ATO), only ATO and LO orders are accepted
• 9:15 - 11:30: Continuous trading, applying LO, MP, MOK, MAK, MTL orders
• 11:30 - 13:00: Lunch break
• 13:00 - 14:30: Continued continuous trading, supporting LO, MP, MOK, MAK, MTL orders
• 14:30 - 14:45: Closing auction session (ATC)
• 14:45 - 15:00: Negotiated trading
• 15:00: Market closes

Bond trading occurs from 9:00 - 11:30, with a break from 11:30 - 13:00, then resumes from 13:00 - 15:00.

HNX Exchange

The HNX operates similarly to HOSE but differs in the following points:

• 9:00 - 11:30: Continuous trading
• 11:30 - 13:00: Lunch break
• 13:00 - 14:30: Continuous trading
• 14:30 - 14:45: Closing auction session (ATC)
• 14:45 - 15:00: After-hours trading with PLO orders

HNX does not have an opening auction session (ATO) like HOSE but has additional trading time at the end of the session.

Upcom Exchange

Upcom is a platform for small and medium-sized enterprises, operating differently:

• 9:00 - 11:30: Continuous trading with LO, MP, MOK, MAK, MTL orders
• 11:30 - 13:00: Lunch break
• 13:00 - 15:00: Continuous trading

Upcom does not have a scheduled opening auction (ATO or ATC); it only conducts continuous trading throughout the day.

When does derivatives trading start?

Derivatives (VN30 Futures and 5-year Government Bond Futures) begin 15 minutes earlier than the underlying securities:

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

Settlement times by asset type

After successful trading, you need to know when you will receive the funds:

• T + 0: Receive money immediately on the trading day (only applies in certain special cases)
• T + 1: Receive money after 1 trading day (applicable to bonds)
• T + 2: Receive money after 2 trading days (applicable to stocks, closed-end fund certificates, ETFs)

Note: Public holidays, Saturdays, and Sundays are not counted in the settlement time, so you should prepare your cash flow accordingly.

Important points to note when trading based on trading hours

The trading hours vary between exchanges, but the key point is that each period involves different types of orders. If you are a beginner and unfamiliar with complex order systems, choose LO (Limit Order) — the simplest order type, which can be used throughout the trading session.

Additionally, the settlement times for different products may cause cash flow issues if not carefully planned. Make a trading plan based on your liquidity needs and adhere to the timing rules to optimize your investment results.