Hanoi Stock Exchange

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Hanoi Stock Exchange
Sở Giao dịch Chứng khoán Hà Nội
TypeStock exchange
LocationHanoi, Vietnam
Coordinates21°01′24″N 105°51′24″E / 21.023339°N 105.856627°E / 21.023339; 105.856627
Founded3 August 2005; 20 years ago (2005-08-03)
OwnerVietnam Ministry of Finance
Key peopleNguyen Duy Thinh (Chairman)
Nguyen Anh Phong (General Director)
CurrencyVND
No. of listings~500 (UPCoM)
IndicesHNX-Index, UPCoM-Index
WebsiteExchange website

Hanoi Stock Exchange (HNX), formerly the Hanoi Securities Trading Center (Hanoi STC)[1] until 2009, is located at No. 02, Phan Chu Trinh, Hoan Kiem District, Hanoi, Vietnam. The exchange was launched on March 8, 2005[2], and handles auctions and trading of stocks and bonds. It was the second securities trading center to open in Vietnam after the Ho Chi Minh City Securities Trading Center.

History

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Early establishment

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The HNX was established through Decision No. 01/2009/QĐ-TTg by the Prime Minister, transforming and restructuring the Hanoi Securities Trading Center, which was originally established under Decision No. 127/1998/QĐ-TTg.[2] The original trading center came into operation on March 8, 2005, and on June 24, 2009, HNX was officially inaugurated as a State-owned single-member limited liability company owned by the Ministry of Finance.[2]

Market development

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At the end of 2006, the combined market capitalization of both Ho Chi Minh City Securities Trading Center and Hanoi Securities Trading Center was 14 billion USD, representing 22.7% of Vietnam's GDP.[3]

On June 24, 2009, HNX officially launched the UPCoM (Unlisted Public Companies Market) trading floor with 10 listed stocks, designed to facilitate unlisted businesses' participation in the market.[4] As of 2024, UPCoM has grown to include over 500 stock codes.[4]

Recent developments

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On May 18, 2015, HNX joined the United Nations Sustainable Stock Exchanges (SSE) initiative as part of the SSE's regional dialogue in Bangkok hosted by the Stock Exchange of Thailand.[5]

From 2020, HNX has served primarily as Vietnam's bonds exchange and operates the UPCoM market, while most stock trading was transferred to the HOSE.[3]

On December 23, 2020, the Prime Minister issued Decision No. 37/2020/QD-TTg establishing the Vietnam Stock Exchange. Under this decision, both the Hanoi Stock Exchange and Ho Chi Minh Stock Exchange became subsidiaries with 100% of their charter capital owned by the Vietnam Stock Exchange.[6]

Operations

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Trading hours

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HNX operates Monday through Friday with trading sessions from 9:00 AM to 11:30 AM (morning session) and 1:00 PM to 3:00 PM (afternoon session), with a lunch break from 11:30 AM to 1:00 PM. The exchange operates in the Asia/Ho_Chi_Minh timezone (GMT+07:00).[7]

Market segments

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HNX operates several market segments:

  • Government Bond Market: Centralized government bond bidding and trading since 2006[2]
  • Corporate Bond Market: Including both public and private corporate bonds
  • UPCoM (Unlisted Public Companies Market): For unlisted public companies
  • Derivatives Market: Launched in August 2017[2]

Market indices

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The exchange maintains two primary indices:

  • HNX-Index: The main stock index, which closed at 227.43 points at the end of 2024[8]
  • UPCoM-Index: Tracking unlisted public companies, ending 2024 at 95.06 points[8]

Price limits

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Trading on HNX operates with daily price limit mechanisms: 10% fluctuation limit for regular stocks, which can extend to 30% for newly listed stocks or stocks resuming trading after suspension for more than 25 days. For UPCoM, the limit is 15% normally and can reach 40% on the first trading day or resumption after suspension.[3]

Foreign investment

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Foreign investors are permitted to invest up to a limit of 49% ownership of companies, except banks where the limit was 30%. Foreign ownership limits in securities trading firms depend on whether the investor is an individual or organization and whether certain qualifying conditions are met.[3]

Leadership

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As of 2024, HNX is led by:

  • Chairman: Nguyen Duy Thinh[9]
  • General Director: Nguyen Anh Phong[9]

See also

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References

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  1. ^ "Asean Exchanges : The Market". Archived from the original on 2018-12-03. Retrieved 2014-03-17.
  2. ^ a b c d e "Home - Hanoi Stock Exchange". Hanoi Stock Exchange. Retrieved 2024-08-26.
  3. ^ a b c d "The Vietnam Stock Exchange 2025: Regulations, Indexes, Development". 2025-07-02. Retrieved 2024-08-26.
  4. ^ a b "What is UPCoM-Index? How to Calculate UPCoM-Index". PHS. 2023-04-01. Retrieved 2024-08-26.
  5. ^ "South East Asian Capital Market Leaders Pursue Sustainable Business Agenda". SSE Initiative. Archived from the original on 30 August 2019. Retrieved 23 May 2015.
  6. ^ "Switching to HNX can help reduce overload on HoSE: VNDirect CEO". Vietnam+. 2021-02-21. Retrieved 2024-08-26.
  7. ^ "Hanoi Stock Exchange (HNX) Overview". TradingHours.com. Retrieved 2024-08-26.
  8. ^ a b "VN-Index grows an impressive 12% in 2024". Vietnam Financial Times. 2025-01-01. Retrieved 2024-08-26.
  9. ^ a b "News Events". Hanoi Stock Exchange. Retrieved 2024-08-26.
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