Singapore Hot Stocks-Hyflux up on water trust's strong earnings

SINGAPORE, Aug 6 (Reuters) - Water treatment firm Hyflux (HYFL.SI: Quote, Profile, Research) rose as much as 5 percent after Hyflux Water Trust Management (HYWT.SI: Quote, Profile, Research) (HWT) posted better-than-expected results for the second quarter due to lower expenses.

Hyflux surged to a high of S$2.54 with over one million shares changing hands.

Shares of HWT, which owns water treatment plants and is about 32 percent held by Hyflux, jumped 3.9 percent to S$0.66.

HWT posted a net profit of S$2.2 million in the April-June period, and will distribute 1.30 Singapore cents a unit [ID:nSN8561092]

"HWT continues to excel as far as cost management is concerned and even bettered its first quarter's operating margins," said DBS analyst Suvro Sarkar in a research note.

0634 GMT - Straits Times Index .FTSTI was up 1.17 percent.

DBS RECOVERS AFTER ANALYSTS CALM CDO FEARS

Shares of DBS Group Holdings (DBSM.SI: Quote, Profile, Research), Southeast Asia's largest bank, climbed as much as 1.2 percent to recoup some of Tuesday's 3 percent drop after analysts calmed investor worries about potential losses on risky debt.

DBS rose to a high of S$19.04 with more than 7.7 million shares changing hands. But the stock had erased most of the gains by 0608 GMT and was trading up 0.2 percent at S$18.86.