"The whole purpose of going into the market was to restore order. So, when we unload these stocks and shares acquired during this period (we) must not cause a disorder," Tsang said in a radio interview.

He did not specify when the shares would be sold.

"We must remember what we have purchased are the prime, prime stock and shares of Hong Kong...This is a good investment. I am quite happy to hold them in the Exchange Fund, you know, long term," Tsang said.

Massive government intervention aimed at burning stock and currency speculators pushed stock market turnover on Friday to a record high of HK$79 billion ($10 billion).

Despite the move, the Hang Seng Index closed 93 points lower at 7,829.Tsang said that some would believe Hong Kong had tarred its reputation as the freest market in the world, but said there were some instances when "improper" market movements had to be addressed in order for an orderly system to exist.

Tsang said that it was not likely the end of speculative activity.

"Speculators are part and parcel of the open market system," Tsang said. He said he hoped the government had managed to deter them from taking frequent bites at the Hong Kong dollar.

Tsang on Friday declined to disclose the amount the government spent or was willing to spend on the intervention. But brokers estimated the government had used more than HK$100 billion.

The territory's government started the unprecedented intervention in the stock and stock futures markets on Aug 14, aiming to squeeze out speculators engaged in a double play of dumping the Hong Kong dollar and selling local stocks and Hang Seng Index futures.

The government believes speculators were trying to push up interest rates by attacking the dollar, causing panic and a sharp fall in stock markets. They could then buy back stocks or futures contracts at a much lower price and take profits.

Hong Kong newspaper editorials on Saturday said the government should stop its fierce anti-speculative buying of stocks and focus instead on preventive measures.

The leading English-language daily the South China Morning Post said that now the first stage of the battle was over, if only temporarily, it was time to ensure such interventions never became necessary again.

"The first priority must be for the government to cease its share-buying as quickly as possible," the editorial said. "This will not be easy and will certainly involve a fall in the Hang Seng Index."

The market has risen about 1,169 points since the government began its intervention on August 14.The independent Ming Pao said the government had paid a high price for its victory on Friday. It urged the government to take measures against further attacks.

Two pro-China dailies, the Ta Kung Pao and Wen Wei Po, praised the government action against speculators. They said that strengthening supervision of short-selling activities and increasing transparency on the financial markets would be positive measures to prevent repeated speculative attacks.

The Chinese-language Hong Kong Economic Journal said it would be naive to say the government had won a victory over the speculators, since it had bought a lot of stocks above market prices. If financial officials had listened to the warnings about short-selling activities a year ago, the intervention would not have been necessary, it said.

The Apple Daily said it did not agree with the intervention as it would undermine the strength of the linked rate. Increasing transparency in the operation of the financial markets was the only effective way to deal with the crisis, it said.