Hong Kong - Hong Kong stocks fell back 2.52 per cent Friday at the end of one of the most turbulent weeks in the history of the Hang Seng Index.

The blue-chip index lost 361.18 points, slipping back below the 14,000 point barrier to 13,968.67 points. Turnover was 58.47 billion Hong Kong dollars (7.54 billion US dollars).

Analysts blamed the fall on profit-taking after three consecutive days of gains which has seen the index bounce back by 23 per cent after recording one of its biggest day losses Monday.

HSBC, which has seen its share price yo-yo throughout the week, and China stocks led Friday's falls and property developers lost ground as lenders kept rates unchanged despite interest rate cuts.

The losses came as experts predicted more economic gloom in the weeks and months ahead despite spluttering rallies on regional and global markets.

On Monday, the Hong Kong index sank by 12.7 per cent and then rebounded by 14.35 per cent Tuesday and another 13 per cent on Thursday on the back of US and local interest rate cuts.

The Hang Seng Index has lost more than half of its value since peaking at almost 32,000 in October 2007. (dpa)