THE Cathay Investment Fund, a closed-end fund listed on the Hong Kong stock exchange, has announced the start of share trading in its portfolio company, China Yuchai International, on the New York Stock Exchange. China Yuchai closed its first day of trading on the New York exchange last Friday at US$10.125 (HK$78.2 million). 'We are very pleased that the listing of the first of our portfolio companies has been achieved in such a short time. Guangxi Yuchai is one of the pre-eminent industrial companies in China, and we are very confident of its continued growth and prosperity,' said a Cathay spokesman. China Yuchai owns about 75 per cent of Guangxi Yuchai Machinery Company, China's largest diesel engine maker. Cathay acquired its 13 per cent interest in China Yuchai for $12 million in early 1993.