Despite the scant possibility of another interest rise in the United States and the chief executive's policy speech on Wednesday, the Hong Kong market remained on the upside throughout the week.
The Hang Seng Index finished at about 12,800 points on Monday ahead of the US Federal Reserve's second-last meeting for the year, boosted by China Telecom.
The company announced after the market had closed that it would pay $49.71 billion for three mobile telephone networks in the mainland.
Bargain hunters also came in to play after recent declines in some leading counters.
It seemed the frantic run for technology-related plays was cooling off, although analysts believe investors - particularly local punters - are just taking a breather.
A report that the Securities and Futures Commission was investigating trading in some of the speculative plays last month also could have spurred profit-taking, some market watchers said.
The Fed decided against raising rates, but reiterated its monetary tightening bias, leading many to the belief that chairman Alan Greenspan will raise rates at the November meeting.