HCMC – PetroVietnam Gas Joint Stock Corporation, whose shares are traded on the Hochiminh Stock Exchange under the code GAS, has passed a plan to stop the operation of its branch in Ba Ria-Vung Tau Province.

The PV Gas Branch in Thang Nhi Ward in Vung Tau City will shut down on January 1, 2023, which is part of the firm’s restructuring plan, the local media reported.

Between January and September, GAS posted some VND78.7 trillion in revenue, up 33.8% year-on-year, and VND11.7 trillion in after-tax profit, soaring by 72% year-on-year.

This year, the gas firm targeted revenue at VND80 trillion and after-tax profit at VND7 trillion.

Closing the trading session today, December 23, GAS gained steam, ending its four-session falling streak.

Meanwhile, on the HCMC bourse, weak cash flow and selling pressure on many big-cap stocks dragged the VN-Index down 2.27 points, or 0.22%, from the session earlier, at 1,020.34. Over 544 million shares worth VND9 trillion changed hands, down 24% in volume and 29% in value against the previous session.

In the VN30 basket, 16 stocks fell into negative territory, with steelmaker HPG, securities firm SSI and property firm NVL making a sharp drop.

At the close, the HNX-Index of the Hanoi exchange lost 0.49 points, or 0.24%, from the session earlier, at 205.3, with 75 gainers and 72 decliners.

Construction firm CEO plunged to its intraday low and reported a matching volume of 4.4 million shares.

Securities firm SHS ended down, but took the lead by liquidity on bourse with 11.7 million shares changing hands.