Complete guide to trading timeframes in the Vietnamese stock market

Any investor who wants to participate in the Vietnamese stock market must understand an important point: what time do stock trading sessions start. This is not just about the trading hours but also a key to avoiding costly mistakes in trading. When you place an order outside the designated hours, your order will be delayed until the next trading session, which could lead to a lower price than expected.

Structure of the Vietnamese stock market and the importance of trading hours

The Vietnamese stock market has experienced 20 years of remarkable development, from the early days with only 2 stocks (REE and SAM) to now with over 1,600 listed companies on 3 main exchanges: HOSE, HNX, and UpCom. The total market capitalization has exceeded 4 quadrillion VND (171 billion USD), and the derivatives market has also seen impressive growth with trading volume increasing 3.3 times annually.

However, to effectively exploit these opportunities, it is essential to understand when each exchange’s stock trading session starts. This difference can directly impact your ability to execute trades and your profits.

Basic trading hours on the 3 Vietnamese exchanges

Opening hours

All three exchanges, HOSE, HNX, and UpCom, operate from Monday to Friday, with main trading hours from 9:00 AM to 3:00 PM (local time GMT +7). On Saturdays, Sundays, and holidays, the exchanges are completely closed. On average, the market trades about 250 days per year.

However, what time do stock trading sessions start varies significantly between exchanges when considering regular matching and order types applied.

Details of trading hours on HOSE

For bonds on HOSE, negotiated trading occurs from 9:00 - 11:30, breaks from 11:30 - 13:00, then continues from 13:00 - 15:00.

Details of trading hours on HNX

HNX is similar to HOSE but does not have an opening call auction (ATO). Instead, HNX has after-hours trading from 14:45 - 15:00 with PLO (Post-listing Order):

Details of trading hours on UpCom

UpCom is the most different because it has no periodic matching sessions (no ATC or ATO):

Derivatives trading: when do stock trading sessions start differently

The Vietnamese derivatives market currently offers only 2 main products: VN30 index and 5-year Government Bond Futures. Notably, derivatives trading sessions start earlier than the underlying stocks:

• Periodic matching opening: 8:45 - 9:00
• Continuous trading session I: 9:00 - 11:30
• Lunch break: 11:30 - 13:00
• Continuous trading session II: 13:00 - 14:45

This allows derivatives traders to start trading 15 minutes earlier than the underlying stocks, creating opportunities during a distinct trading period.

Settlement time: a decisive factor for cash flow

Besides knowing what time do stock trading sessions start, investors should pay special attention to settlement times. The market applies 3 settlement points:

• T + 0: Same-day settlement
• T + 1: Settlement after 1 trading day (excluding holidays, Saturdays, Sundays)
• T + 2: Settlement after 2 trading days (excluding holidays, Saturdays, Sundays)

Bonds are settled on T + 1, while stocks, closed-end fund certificates, and ETFs follow T + 2. This is crucial to avoid cash flow issues or missing the next trading opportunity.

Choosing the appropriate order type

One important note is that each trading session not only differs in timing but also in the types of orders allowed. If you are a beginner retail investor, LO (Limit Order) is the safest choice because it can be used throughout the entire trading hours of all three exchanges.

Understanding what time do stock trading sessions start and the applicable order types will help you optimize your trading strategy, avoid unnecessary mistakes, and manage risks more effectively.