HOPEWELL shares rallied strongly for a second day as Gordon Wu's new openness policy appeared to be paying handsome dividends. The stock gained 15 cents yesterday to close at $4.475, a rise of 3.46 per cent. At one stage it rose as high as $4.525. On Friday it rose 17.5 cents. Volume was heavy, with 31.12 million shares traded, the highest among the blue chips. Hopewell appeared to be in dire straits last week as concern piled upon concern. It fell to a three-year low of $3.875 in intra-day trading last Tuesday as concerns about the delayed opening of the Pagbilao power plant in the Philippines built by its subsidiary Consolidated Electric Power Asia compacted negative sentiment. There were already concerns about the scale of cost overruns at its China highway project and over the company's general lack of disclosure. Mr Wu finally responded to the criticism by briefing reporters last Wednesday and announcing the company was planning to spin off a proportion of two of its infrastructure projects to reduce its level of debt. He has also agreed to talk to local analysts tomorrow. These two actions appear to have brought some buyers back to the market. Buying was mixed yesterday with many of the big houses upping their stake, including W.I. Carr, Morgan Stanley and Peregrine. Kent Rossiter, senior manager for institutional sales at Sun Hung Kai Investment Services, said: 'He [Mr Wu] has gone a long way responding to investors' needs and has met analysts halfway as well.' But one broker was much more negative. 'I still wouldn't touch that stock with a barge-pole,' he said.