Hong Kong Software Defensive Blue Chips

China Resources Beer (Holdings)

Market Cap: HK$84.5b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.

Waaree Energies

Market Cap: ₹997.1b

Manufactures and exports solar photovoltaic modules for residential, commercial, industrial, and institutional projects.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫283.0t

Provides various banking products and services in Vietnam and internationally.

Tongfu MicroelectronicsLtd

Market Cap: CN¥73.1b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Buzzi

Market Cap: €9.1b

Manufactures, distributes, and sells cement, ready-mix concrete, and natural aggregates.

Bank of Chengdu

Market Cap: CN¥73.0b

Provides various commercial banking products and services in China.

FormFactor

Market Cap: US$10.7b

Designs, manufactures, and sells probe cards, analytical probes, probe stations, thermal systems, cryogenic systems, and related services in the United States, South Korea, Taiwan, China, Japan, Singapore, Europe, Malaysia, and internationally.

BDO Unibank

Market Cap: ₱637.5b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

King Yuan Electronics

Market Cap: NT$336.3b

Designs, manufactures, sells, tests, and assembles integrated circuits.

Tsingtao Brewery

Market Cap: CN¥72.7b

Engages in the manufacture and sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

BKW

Market Cap: CHF 8.3b

An energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

J Sainsbury

Market Cap: UK£7.9b

Engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom.

Marico

Market Cap: ₹982.8b

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

Yokohama Financial Group

Market Cap: JP¥1.7t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.

Max Healthcare Institute

Market Cap: ₹979.8b

Provides medical and healthcare services in India.

Sejahteraraya Anugrahjaya

Market Cap: Rp182.4t

Provides medical services in Indonesia.

Encompass Health

Market Cap: US$10.6b

Operates inpatient rehabilitation hospitals in the United States and Puerto Rico.

KT

Market Cap: ₩15.4t

Provides integrated telecommunications and platform services in South Korea, rest of Asia, and internationally.

SD Guthrie Berhad

Market Cap: RM 41.4b

Operates as an integrated plantations company in Malaysia and internationally.

Jinko Solar

Market Cap: CN¥71.4b

Engages in the research, development, manufacturing, and sale of photovoltaic products and clean energy solutions in China, Europe, America, the Asia Pacific, and internationally.

Rockchip Electronics

Market Cap: CN¥71.3b

Operates as a fabless IC design company focusing on Intelligent IoT in China.

Alpha Bank

Market Cap: €8.9b

Provides various banking and financial products and services in Greece and internationally.

Boubyan Bank K.S.C.P

Market Cap: د.ك3.2b

Provides various banking products and services in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥70.8b

Engages in the clean energy business in China.

Menora Mivtachim Holdings

Market Cap: ₪30.7b

Operates in insurance and finance sectors in Israel.

Eneva

Market Cap: R$51.6b

An integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil.

Enel Américas

Market Cap: CL$9.1t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina, and Peru.

Globalstar

Market Cap: US$10.3b

Provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally.

Vietnam Commercial Bank for Industry and Trade

Market Cap: ₫270.7t

Provides various banking products and services in Vietnam and internationally.

Dangote Cement

Market Cap: ₦13.8t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Old Republic International

Market Cap: US$10.2b

Through its subsidiaries, provides insurance underwriting and related services in the United States and Canada.

China Taiping Insurance Holdings

Market Cap: HK$79.8b

An investment holding company, underwrites various insurance and reinsurance products in the People’s Republic of China, Hong Kong, Macau, Singapore, and internationally.

ICICI Lombard General Insurance

Market Cap: ₹943.0b

Provides various general insurance products and services in India.

Beazley

Market Cap: UK£7.5b

Through its subsidiaries, provides risk insurance and reinsurance solutions in the United States, the United Kingdom, and rest of Europe.

Vienna Insurance Group

Market Cap: €8.6b

Engages in providing insurance products and services in Austria and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥69.1b

Beijing E-Town Semiconductor Technology Co., Ltd.