Hong Kong - Hong Kong shares plunged by more than 7 per cent Friday, falling below 15,000 for the first time in three years, as panic gripped regional markets.

The blue-chip Hang Seng Index lost 1,146.37 points, or 7.19 per cent, to close at 14,796.87. Turnover was 69.3 billion Hong Kong dollars (8.9 billion US dollars).

Analysts said they saw no end to the rout in sight and expected losses to continue into next week as confidence collapses in the rescue packages rolled out by governments worldwide.

Friday's sell-off followed a minor rally in stock prices Thursday when the Hang Seng rebounded by more than 3 per cent after two days of successive interest-rate cuts.

Stocks in Hong Kong have fallen more steeply than almost anywhere else in the region, losing more than a quarter of their value in the past three weeks and more than half their value since October 2007. (dpa)