According to Zhitong Finance APP, power stocks rose collectively. As of press time, Huaneng Power International, Inc. (00902) gained 3.65% to HK$5.82; China Resources Power Holdings Co., Ltd. (00836) gained 3.05% to HK$19.57; Huadian Power International Corporation Limited (01071) gained 2.90% to HK$4.085; and China Longyuan Power Group Corporation Limited (00916) gained 2.23% to HK$5.27.

On the news front, the results of October monthly contract electricity prices in Jiangsu and Guangdong were announced. Jiangsu's October centralized trading weighted average price reached 395.32 yuan/MWh, up 50.8 yuan/MWh month-on-month and up 54.6 yuan/MWh year-on-year; Guangdong's monthly comprehensive trading average price reached 456.78 yuan/MWh, up 53.5 yuan/MWh month-on-month and up 84.4 yuan/MWh year-on-year.

Guosheng Securities pointed out that electricity prices in Jiangsu and Guangdong both rose year-on-year and month-on-month in October, strengthening the signal of stabilizing and rising power prices. It continues to recommend paying attention to changes in market expectations for the year-end 2027 annual long-term contract electricity price negotiations. Orient Securities stated that monthly trading prices continue to remain above annual contract prices, and combined with recent marginal support from the spot side, the market has in effect formed a higher pricing anchor; if prices in the fourth quarter continue at current levels, we maintain strong confidence in the recovery of the central level of 2027 annual long-term contract electricity prices, but the final increase will still depend on coal price trends and the results of contract signing games among market participants.