Hong Kong Software Defensive Blue Chips

Bunge Global

Market Cap: US$23.4b

Operates as an agribusiness and food company worldwide.

KeyCorp

Market Cap: US$23.4b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

Public Bank Berhad

Market Cap: RM 92.6b

Provides banking products and services.

Dollar General

Market Cap: US$23.3b

A discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States.

Markel Group

Market Cap: US$23.2b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

Banco BPM

Market Cap: €20.0b

Provides banking and financial products and services to individual, business, and corporate customers in Italy.

MTN Group

Market Cap: R381.4b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

Terna

Market Cap: €20.0b

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally.

NN Group

Market Cap: €19.9b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥156.5b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

China Tower

Market Cap: HK$179.5b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Tyson Foods

Market Cap: US$22.9b

Operates as a food company worldwide.

Telenor

Market Cap: NOK 210.6b

Operates as a telecommunication company worldwide.

First Citizens BancShares

Market Cap: US$22.7b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Coca-Cola FEMSA. de

Market Cap: US$22.5b

A franchise bottler, produces, markets, sells, and distributes Coca-Cola trademarked beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay.

Shenzhen Techwinsemi Technology

Market Cap: CN¥152.9b

Develops, manufactures, and sells storage control chips and modules in China and internationally.

Cellnex Telecom

Market Cap: €19.3b

Engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria.

Principal Financial Group

Market Cap: US$22.4b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

Loews

Market Cap: US$22.4b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

China Jushi

Market Cap: CN¥152.2b

Manufactures and sells fiberglass and related products in China and internationally.

Banco de Crédito del Perú

Market Cap: S/75.9b

Provides banking products and services to individuals, small and medium-sized enterprises (SME), and companies in Peru, Panama, and the United States.

Terumo

Market Cap: JP¥3.5t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Telefônica Brasil

Market Cap: R$111.2b

Operates as a mobile telecommunications company in Brazil.

China Minsheng Banking

Market Cap: CN¥149.8b

Provides banking products and services in the People's Republic of China.

Hangzhou Changchuan TechnologyLtd

Market Cap: CN¥149.3b

Researches and develops, produces, and sells integrated circuit equipment in China and internationally.

Global Unichip

Market Cap: NT$688.8b

Engages in the research and development, production, testing, and sale of embedded memory and logic components, analog components, cell libraries, and EDA tools for various IC applications.

Hana Financial Group

Market Cap: ₩32.9t

Through its subsidiaries, provides financial services in South Korea, Hong Kong, Singapore, the United States, Japan, China, Indonesia, the United Kingdom, Canada, and internationally.

BIWIN Storage Technology

Market Cap: CN¥147.0b

Engages in the research and development, design, packaging, testing, production, and sales of semiconductor memory.

Arca Continental. de

Market Cap: Mex$374.4b

Produces, distributes, and sells soft drinks in Mexico, Argentina, Ecuador, Peru, the United States, and internationally.

Quest Diagnostics

Market Cap: US$21.6b

Provides diagnostic testing and services in the United States.

Fortum Oyj

Market Cap: €18.6b

Engages in the generation and sale of electricity and heat to private and business customers in Finland, Sweden, Norway, Poland, and internationally.

Bank Mandiri (Persero)

Market Cap: Rp384.2t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

Lasertec

Market Cap: JP¥3.4t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

Riyad Bank

Market Cap: ر.س80.2b

Provides banking and investment services in the Kingdom of Saudi Arabia.

ASPEED Technology

Market Cap: NT$672.1b

Operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥145.0b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.