<正> Polycyclotrimerization of diynes was explored as a new route to hyperbranched polymers in thisinvestigation. Polymerization of terminal diynes of 1,8-nonadiyne and 1,9-decadiyne was studied usingTaCl5, NbCl5, Mo(CO)4(nbd) and [Mo(CO)3cp]2 as catalysts (where nbd = 2,5-norbornadiene, cp = cyclo-pentadiene). A soluble polymer was obtained when the polymerization of 1.9-decadiyne was initiated byTaCl5 at low temperature (0℃). The polymer, however, became partially soluble after purification, possiblydue to the postpolymerization-induced crosslinking. NbCl5-catalyzed polymerization of 1,9-bis(trimethylsilyl)-1,8-nonadiyne gave a completely soluble polymer. Soluble polymers were also obtainedfrom the polymerization of 3,9-dodecadiyne initiated by NbCl5, Mo(CO)4(nbd), [Mo(CO)3cp]2, PdCl2-ClSiMe3 and Pd/C-ClSiMe3. IR, UV, and NMR spectroscopic analysis revealed that different catalysts gavepolymers with different structures, ranging from linear polyenes to hyperbranched polyphenylenes. Thepolymers absorb UV light at around 250 nm and emit fluorescence at 340 nm when they are excited at 248nm.