Lord of the Rings was Hong Kong's most profitable film over the Lunar New Year holiday. The fantasy epic grossed nearly $21 million in two weeks after opening at 31 cinemas, the highest figure in the latest Top 10 box office list. But it was only the sixth most popular film on Tuesday, raking in $460,000. Topping the chart was the animated picture Monsters, Inc, with a daily taking of $1.2 million and a total of $19 million after 11 days. Lord Of The Rings distributor Era said the film's run in cinemas might be extended should it achieve good results at the Oscars on March 24. The film is a three-hour adaptation of J. R. R Tolkien's classic fantasy novel about elves, dwarfs, wizards and hairy-footed hobbits. It was directed by Peter Jackson and has received 13 nominations for this year's Oscars - the most of any film - including best motion picture and best director. Film critic Law Kar said the film's impact in Hong Kong was stunning when compared with other films over the holiday. 'It appeals to the Hong Kong audience with the use of high technology and a good script without a star-studded cast. It's the creativity that has won Hong Kong people's hearts,' he said. Law said the film also exposed the shortcomings in Hong Kong productions, particularly in the areas of technology and story-telling. 'We often have to depend heavily upon a big cast as we don't have the kind of high technology combined with a good plot. We must do something to improve in order not to be overtaken,' he said.