Seoul shares down 0.49 pct in late-morning trade

SEOUL, June 10 (Yonhap) -- South Korean stocks traded 0.49 percent lower late Friday morning after the country's central bank announced a quarter percentage point rate hike for June, analysts said.
Reversing earlier gains, the benchmark Korea Composite Stock Price Index (KOSPI) slipped 10.17 points to 2,061.25 as of 11:20 a.m.
The Bank of Korea raised the key interest rate by 0.25 percentage point to 3.25 percent, resuming its monetary tightening to curb persistent inflationary pressure.
Retailers and techs drove down the KOSPI. E-mart, the operator of the country's largest discount chain, tumbled nearly 8 percent, and chip giant Hynix Semiconductor lost almost 5 percent.
In contrast, energy companies were bullish with S-Oil, the No. 3 market player, adding more than 2 percent.
The local currency was changing hands at 1,080.75 won to the greenback as of 11:20 a.m., up 2.15 won from Thursday's close.