Chinese Power Stocks Rally; Three Thermal Power Firms Hit Limit-Up

A broad, catalyst-free rally in thermal power names is more a signal about positioning and sentiment than about fundamentals. The fact that the limit-up moves clustered in smaller thermal generators, while nuclear and broader power names gained less, suggests traders are chasing beta rather than pricing any single policy or earnings event. What matters is whether this breadth holds without a catalyst, or fades once the momentum bid cools.