## Master the Stock Trading Hours to Maximize Profits

### Why are stock trading hours important?

Worldwide, from NYSE and NASDAQ in the US to JPX in Japan, LSE in the UK, or SSE in China, each market has its own trading schedule. In Vietnam, the three main stock exchanges—HOSE, HNX, and Upcom—are no exception.

Trading outside the designated hours will result in your orders not being matched immediately but waiting until the next session. This can significantly impact trading value because price-changing events can occur during the pause. Therefore, understanding **stock trading hours** is fundamental knowledge that every investor needs to master before starting.

### Development of the Vietnamese stock market

After 20 years of operation, the Vietnamese stock market has grown from just 2 initial listed stocks (REE and SAM) to over 1,600 listed companies. The total market capitalization reaches approximately 4 quadrillion VND (equivalent to 171 billion USD).

Additionally, the derivatives market, although only three years old, has shown explosive growth with trading volume increasing 3.3 times annually, affirming its position as an effective risk management tool.

### Regulations on trading hours for the three main exchanges

All three exchanges—HOSE, HNX, and Upcom—follow trading schedules from Monday to Friday. Saturday, Sunday, and public holidays are non-operational. On average, the Vietnamese stock exchanges trade about 250 days per year.

**Common trading hours for all three exchanges:**
- Opening: 9:00 AM
- Closing: 3:00 PM
- Lunch break: 11:30 AM - 1:00 PM

**Details of stock trading hours at HOSE:**

| Time | Order Types | Notes |
|-------|--------------|--------|
| 9:00 - 9:15 | ATO, LO | Opening periodic match |
| 9:15 - 11:30 | LO, MP, MOK, MAK, MTL | Continuous trading |
| 11:30 - 13:00 | - | Lunch break |
| 13:00 - 14:30 | LO, MP, MOK, MAK, MTL | Continuous trading |
| 14:30 - 14:45 | ATC, LO | Closing periodic match |
| 14:45 - 15:00 | - | End of trading |

For bonds: negotiated trading from 9:00 - 11:30, break 11:30 - 13:00, resumes 13:00 - 15:00.

**Features of HNX:**

HNX has similar regulations to HOSE but does not have an opening periodic match (ATO). Instead, HNX allows after-hours trading from 2:45 PM - 3:00 PM with PLO orders (Post-trading LO).

**Upcom - A simplified approach:**

Upcom differs because it does not have any periodic matching sessions (no ATO, no ATC). The entire trading framework uses continuous matching with LO, MP, MOK, MAK, MTL orders from 9:00 - 11:30 and 13:00 - 15:00.

### Settlement time - An unavoidable factor

Besides trading hours, you should also pay attention to the settlement time for receiving funds. The Vietnamese market applies three settlement levels:

- **T + 0**: Same day as the transaction is successfully executed
- **T + 1**: One day after (excluding Saturdays, Sundays, and holidays)
- **T + 2**: Two days after (excluding Saturdays, Sundays, and holidays)

Bonds settle T + 1, while stocks, closed-end fund certificates, and ETF certificates follow T + 2. This means if you trade on Friday, the settlement money might be delayed to the following week, affecting your cash flow.

### Derivatives market - Trading earlier

The Vietnamese derivatives market currently has two main products: VN30 index and 5-year Government Bond Futures.

**Derivatives trading hours:**
- Morning session: 8:45 - 11:30 (opens 15 minutes earlier than the underlying stocks)
- Lunch break: 11:30 - 13:00
- Afternoon session: 1:00 - 2:45 (closes 15 minutes earlier)

**Summary table of trading hours across the three exchanges:**

| Time Period | Derivatives | HOSE | HNX | Upcom |
|--------------|--------------|-------|-------|--------|
| 8:45 - 9:00 | Opening periodic match ATO/LO | - | - | - |
| 9:00 - 9:15 | - | ATO/LO | - | - |
| 9:15 - 11:30 | Continuous matching | MP/LO | LO/MP/MOK/MAK/MTL | LO |
| 11:30 - 13:00 | Lunch break | Lunch break | Lunch break | Lunch break |
| 13:00 - 14:30 | - | MP/LO | LO/MP/MOK/MAK/MTL | LO |
| 14:30 - 14:45 | Periodic ATC/LO | ATC/LO | ATC/LO | - |
| 14:45 - 15:00 | - | - | PLO | - |

### Important notes for investors

Although the three exchanges have slight differences in schedule (about 15 minutes), each time slot applies different order types with their own priority order.

If you are a beginner individual investor unfamiliar with complex order types, LO (Limit Order) is the safest choice. This order can be used continuously throughout trading hours to buy or sell.

A crucial point to note is that settlement times vary for different asset types. If you trade on weekends, funds may be delayed by several days. Therefore, plan your cash flow carefully to avoid unwanted liquidity shortages.