2026.04.24 KoAct AI Infrastructure Active(487130) Korea Stock Analysis - Neutral

📌 Company Overview

KoAct AI Infrastructure Active (487130) is an actively managed fund listed on the KOSPI market, managed by Samsung Active Asset Management under the KoAct ETF brand. The fund invests at least 60% of its trust assets in domestic Korean stocks related to AI infrastructure — including data centers, semiconductor equipment, power infrastructure, and AI software companies — while seeking excess returns over the Solactive Korea AI Infrastructure Index. As Korea ramps up its AI investment cycle alongside global hyperscalers, this fund sits at the intersection of the country's most compelling structural growth theme.

📈 Current Stock Price

(As of 2026-04-24 23:36 KST, market close)

Item	Value
Current Price	29,675 KRW
Daily Change	+1,295 KRW (+4.56%)
Previous Close	28,380 KRW
Volume	88,540 shares
52-Week High	29,790 KRW
52-Week Low	7,675 KRW

The stock surged +4.56% on April 24, 2026, hitting an intraday high of 29,790 KRW — which also represents the 52-week high. The 52-week range of 7,675 ~ 29,790 KRW underscores the extraordinary year-on-year appreciation, reflecting the powerful AI infrastructure re-rating across Korean equities.

🔧 Technical Analysis

The moving average structure is in a perfect bullish alignment (golden cross configuration):

Indicator	Value	Signal
5-Day MA	28,089 KRW	Bullish
20-Day MA	24,375 KRW	Bullish
60-Day MA	22,600 KRW	Bullish
RSI (14)	94.29	⚠️ Severely Overbought
MACD	1,720.59	Buy
MACD Signal	1,168.85	Buy
MACD Histogram	+551.74	Expanding Momentum
Support Level	27,650 KRW	—
Resistance Level	29,790 KRW (52W High)	—

The 5-day, 20-day, and 60-day moving averages are stacked in perfect order, confirming an intact medium-to-long-term uptrend. The MACD histogram of +551.74 continues to expand, signaling robust buy-side momentum. However, the RSI reading of 94.29 is firmly in extreme overbought territory — one of the highest readings a listed security can sustain. With the stock simultaneously touching its 52-week high, short-term profit-taking pressure is elevated. Technically, the primary trend remains bullish, but new buyers face asymmetric near-term risk.

💰 Fundamental Analysis

KoAct AI Infrastructure Active is a fund product rather than an individual company, so traditional financial metrics such as P/E ratio, revenue growth, or operating margins are not directly applicable. Instead, valuation is driven by the aggregate performance of the underlying AI infrastructure holdings and the sector's growth trajectory.

The fund's mandate focuses on Korea's AI infrastructure ecosystem — encompassing data center builders, power infrastructure suppliers (UPS, transformers, cooling systems), HBM/DRAM semiconductor companies, and AI-adjacent software enablers. With global AI capital expenditure forecasts continuing to rise through 2026-2027, the structural tailwind for the fund's underlying holdings remains intact. The fund manager, Samsung Active Asset Management, employs active stock selection relative to the benchmark Solactive Korea AI Infrastructure Index, aiming to capture alpha from sector rotation and individual stock calls within the theme.

The fund's dramatic price recovery from the 52-week low of 7,675 KRW to the current 29,675 KRW reflects both the re-rating of AI infrastructure assets globally and domestic capital rotating back into growth-oriented Korean equities.

📰 Recent News & Disclosures

• Active ETF market shifts from bonds to equities — theme competition intensifies (Apr 23, 2026)
  The Korean active ETF landscape is seeing accelerating migration from fixed income toward equity-themed products. AI infrastructure, space tech, and semiconductor ETFs are leading the flow-capture race.
• Space tech, semiconductor, and AI ETFs strengthening (Apr 22, 2026)
  Samsung Active Asset Management's KoAct series continues to attract fund inflows as AI infrastructure and semiconductor ETFs outperform the broader market. KoAct Global AI Memory Semiconductor Active gained +10.20% in the same reporting period.
• FnGuide index-tracking ETF AUM surpasses 60 trillion KRW in 4 months (Apr 22, 2026)
  FnGuide-indexed ETFs doubled their total AUM to over ₩60 trillion in just four months, driven by high-performing themes. KoAct Hydrogen/Power ESS Infrastructure Active led with +47.7% YTD returns, supporting the broader KoAct brand.
• FnGuide ETF AUM surges on semiconductors, defense, and dividends (Apr 22, 2026)
  Broad-based inflows into thematic ETFs underscore growing retail and institutional appetite for sector-concentrated active strategies in Korea.
• Active ETF performance polarization: +46% vs -11% (Apr 22, 2026)
  Active ETFs show extreme performance divergence. AI infrastructure and defense themes dominate winners, while sector-specific losers highlight the importance of theme selection within the active ETF space.

DART Disclosures: No material regulatory filings or adverse disclosures were found for this fund during the review period.

⚖️ Bull vs Bear Factors

🐂 Bull Factors	🐻 Bear Factors
AI infrastructure sector globally in structural bull phase; data center capex accelerating	RSI at 94.29 — historically extreme overbought; mean-reversion risk is high in the near term
Moving averages in perfect bullish alignment (5D > 20D > 60D); MACD histogram expanding	Stock hit 52-week high intraday (29,790 KRW); resistance breakouts often invite profit-taking
Korean active ETF AUM surpassing ₩60 trillion shows structural demand for thematic products	Fund experienced a sharp drawdown in early March 2026 (23,790 → 19,030 KRW), showing volatility risk
Samsung Active Asset Management brand credibility; continued inflows across KoAct series	If key holdings (semiconductors, power infra) report earnings misses, NAV could drop quickly
Global AI spending (NVIDIA, hyperscalers) rebounding; Korean supply chain as key beneficiary	Currency risk for international investors: KRW/USD volatility adds an additional return variable

🎯 Investment Opinion

Rating: Neutral | Confidence: Medium

Parameter	Level
Current Price	29,675 KRW
Target Price	32,000 KRW (+7.8% upside)
Stop-Loss Level	26,500 KRW (below 10-day MA support)
Risk/Reward	~1:1.7 from current levels

The medium-to-long-term AI infrastructure trend and the bullish MA alignment support a constructive bias. However, with RSI at 94.29 and the stock simultaneously touching its 52-week high at +4.56% on the day, the near-term risk/reward for new positions is unfavorable. A Neutral rating is warranted: existing holders should set a stop-loss at 26,500 KRW and can target 32,000 KRW if the 29,790 KRW resistance is broken decisively. New investors are advised to wait for a pullback to the 27,000–27,650 KRW range before initiating positions. For international investors, also monitor KRW/USD trends as currency moves can materially affect USD-denominated returns.

⚠️ Investment Disclaimer

This post is for informational purposes only and does not constitute investment advice. All investment decisions are the sole responsibility of the investor. Korean stock market investments involve currency risk for international investors. Past performance does not guarantee future results.

---

🇰🇷 Korean Version: https://kai-search.tistory.com/manage/posts/