Chinese Software Defensive Blue Chips

Taiwan Cooperative Financial Holding

Market Cap: NT$389.7b

Provides banking, insurance, securities, bills finance, investment trust, asset management, and capital management services in Taiwan.

Brown-Forman

Market Cap: US$12.1b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

GAIL (India)

Market Cap: ₹1.2t

Operates as a natural gas processing and distribution company in India and internationally.

Canara Bank

Market Cap: ₹1.1t

Provides various banking products and services in India and internationally.

Sanan OptoelectronicsLtd

Market Cap: CN¥81.6b

Engages in the research, development, production, and sale of compound semiconductor materials and devices in China and internationally.

SK Telecom

Market Cap: ₩18.4t

Engages in the provision of wireless telecommunication services in South Korea.

Turkiye Garanti Bankasi

Market Cap: ₺560.7b

Provides various banking products and services in Turkey.

Molina Healthcare

Market Cap: US$12.0b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces in the United States.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥81.1b

Henan Shuanghui Investment & Development Co.,Ltd.

Tele2

Market Cap: SEK 115.1b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Jerónimo Martins SGPS

Market Cap: €10.4b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Caixa Seguridade Participações

Market Cap: R$61.6b

Provides insurance products in Brazil and internationally.

Great Eastern Holdings

Market Cap: S$15.4b

An investment holding company, provides insurance products in Singapore, Malaysia, and rest of Asia.

Italgas

Market Cap: €10.4b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

American Financial Group

Market Cap: US$11.9b

An insurance holding company, provides property and casualty insurance products in the United States.

Sanlam

Market Cap: R190.3b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

KT&G

Market Cap: ₩17.9t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Baxter International

Market Cap: US$11.7b

Through its subsidiaries, provides a portfolio of healthcare products in the United States.

Bank of Chengdu

Market Cap: CN¥79.2b

Provides various banking products and services in China.

Chiba Bank

Market Cap: JP¥1.9t

Provides banking products and services in Japan and internationally.

Ooredoo Q.P.S.C

Market Cap: ر.ق42.3b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Saputo

Market Cap: CA$16.5b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, and the United Kingdom.

Tata Consumer Products

Market Cap: ₹1.1t

Manufactures, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

Aier Eye Hospital Group

Market Cap: CN¥78.8b

Operates as an ophthalmic medical company in China, Hong Kong, Europe, the United States, Europe, and Southeast Asia.

Far EasTone Telecommunications

Market Cap: NT$371.5b

Provides mobile telecommunications services in Taiwan and internationally.

Max Healthcare Institute

Market Cap: ₹1.1t

Provides medical and healthcare services in India.

Hangzhou Silan Microelectronics

Market Cap: CN¥78.5b

Engages in the research, design, development, production, and sale of electronic components in China.

Olympus

Market Cap: JP¥1.9t

Engages in the manufacture and sale of medical equipment in Japan, America, the Middle East, Asia, and Oceania.

MTN Nigeria Communications

Market Cap: ₦15.7t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Ambuja Cements

Market Cap: ₹1.1t

Manufactures, markets, and sells cement and related products to individual home builders, developers, institutional clients, masons, contractors, architects, and construction professionals in India.

HKT Trust and HKT

Market Cap: HK$90.0b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

Magnum Ice Cream

Market Cap: €10.0b

Engages in the ice cream business in the Netherlands.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫301.0t

Provides various banking products and services in Vietnam and internationally.

China Resources Power Holdings

Market Cap: HK$89.6b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

Marico

Market Cap: ₹1.1t

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

Harel Insurance Investments & Financial Services

Market Cap: ₪34.3b

Offers insurance and financial services in Israel, Europe, and internationally.