H-SHARE companies shone for the second day yesterday, finding favour with the American institutions which led the market's rally. The stocks were the focus of United States investors as China-play share prices have been perceived as cheap and oversold in recent times. China's struggle with inflation and attempts to re-enter the General Agreement on Tariffs and Trade (GATT) were largely ignored as selective buyers scooped up the more established H-share stocks. Shanghai Petrochemical rose 13 cents to $2.02 while Guangzhou Investments increased 13 cents to $2.28. If China should regain membership in GATT, the country would have to open up further and state-owned enterprises such as those listed in Hong Kong are likely to face competition when foreign firms start setting up in the country. In the short term, China has been given a boost, with the latest trade statistics showing the country chalked up its first surplus in 16 months in June. The surplus of US$970 million helped narrow its trade deficit to $820 million. Meanwhile, Red chip Denway Investments jumped 22 cents to $1.49 and emerged at the top of the top 10 stocks yesterday. Dongfang Electric rose 24 cents to $3.30. Sun Foo Kee Holdings, edged up 0.15 cents to 83.5 cents. The company is expected to arrange project finance facilities to fund the fourth phase development of two power station projects in Wuhu and Dalian. It plans to raise between US$50 million and $60 million. Hop Hing Holdings remained unchanged at $2.21. The company expected its fast-food service operation to contribute up to five per cent of total earnings. Emperor China put on nine cents to $2.54. The company's land bank in China could provide development possibilities for the next seven years.