BUOYANT half-year results from Cheung Kong and Hutchison Whampoa are set to rally today's stockmarket trading, say brokers. Cheung Kong, flagship of property tycoon Li Ka-shing, and its associate, Hutchison Whampoa, one of the territory's oldest conglomerates, both produced better than expected half-year profits yesterday. The results were given an enthusiastic welcome in London, pushing up the Robert Fleming index of Hong Kong stocks traded overnight. The estimate of Hang Seng Index movement, represented by the Fleming Index, closed 60 points up 4,396. According to the Fleming estimates, Cheung Kong was up $1.08 to $37.08 and Hutchison was up 80 cents to $36.30. Cheung Kong defied the critics' predictions of a 20 per cent fall in profits by announcing interim earnings of $4.47 billion, a marginal decline of 1.3 per cent over the same period in 1993. Hutchison Whampoa returned a dramatic recovery with a 48 per cent increase in profits to $3.72 billion. There was also good news for shareholders with interim dividends rising by 12.5 per cent and 37 per cent respectively. Mr Li, chairman, said: ''I'm confident of the future of Cheung Kong and Hutchison in the short, middle and long term.'' He also had some good news for the territory's property owners with a prediction that prices are likely to stabilise over the second half of the year. ''Many Hong Kong people still need to buy properties. Prices have dropped in good locations by up to 20 per cent and even more in worse locations. I don't see the market can fall much, much lower.'' Mr Li said he expects the Government to stall plans to introduce its second phase of property price curbs. Half-year dividend payments are to rise by three cents to 27 cents.