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South Korean Equity Movers: Honam, Korea Aerospace, LG Chem

April 20 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the close in Seoul.

The Kospi Index fell 1.3 percent to 1,974.65, the lowest level since Feb. 6. The gauge retreated 1.7 percent this week, its second straight weekly decline.

Korea Aerospace Industries Ltd. (047810 KS) rallied 3.7 percent to 31,150 won, the highest level since March 23. Korea Finance Corp. will select arrangers this month as it prepares to sell a more than 40 percent stake in Korea Aerospace. The state-run financier and three other shareholders expect to sell the stake in Korea Aerospace by the end of the year, Chief Executive Officer Chin Young Wook said.

LG Chem Ltd. (051910 KS), South Korea’s biggest chemicals maker, tumbled 9.2 percent to 315,500 won, the steepest drop since Sept. 5. The company reported a worse-than-estimated 42 percent decline in first-quarter profit as demand in China waned for materials used to make plastic and synthetic rubber.

Other chemical stocks also retreated, with Honam Petrochemical Corp. (011170 KS) falling 8.3 percent to 294,500 won and Kumho Petro Chemical Co. (011780 KS) losing 7.1 percent to 118,500 won.

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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