Incumbent KMT mayor Hsieh Kuo-liang holds a clear lead in trader consensus for the November 28 Keelung mayoral race, reflecting his renomination by the party and the city's historical leanings toward the KMT. Hsieh survived a 2024 recall attempt by a solid margin and maintains structural advantages as the sitting executive, including name recognition and established local networks. DPP nominee Tung Tzu-wei, registered in early September alongside other candidates, brings council speaker experience and family political ties but faces challenges closing the gap in a contest where earlier 2026 polling showed a tighter race. The presence of additional minor candidates has not materially altered the two-way dynamic in market pricing.