Kuwaiti Software Defensive Blue Chips

Tongfu MicroelectronicsLtd

Market Cap: CN¥73.6b

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

Waaree Energies

Market Cap: ₹1.0t

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

China Resources Beer (Holdings)

Market Cap: HK$84.3b

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

Sichuan Chuantou EnergyLtd

Market Cap: CN¥73.4b

Engages in the clean energy business in China.

Japan Post Insurance

Market Cap: JP¥1.7t

Provides life insurance products and services in Japan.

Bank Albilad

Market Cap: ر.س40.3b

Through its subsidiaries, provides various banking products and services in the Kingdom of Saudi Arabia.

Discovery

Market Cap: R175.8b

Provides various insurance products and services primarily in South Africa and the United Kingdom.

Buzzi

Market Cap: €9.1b

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

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.

Tsingtao Brewery

Market Cap: CN¥72.9b

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: ₹987.2b

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

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.

Max Healthcare Institute

Market Cap: ₹983.2b

Provides medical and healthcare services in India.

BDO Unibank

Market Cap: ₱632.7b

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

Boubyan Bank K.S.C.P

Market Cap: د.ك3.3b

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

King Yuan Electronics

Market Cap: NT$331.4b

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

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.

Alpha Bank

Market Cap: €8.9b

Provides various banking and financial products and services in Greece 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.

SD Guthrie Berhad

Market Cap: RM 41.2b

Operates as an integrated plantations company in Malaysia and internationally.

eMemory Technology

Market Cap: NT$327.5b

Engages in the research, development, manufacturing, and sales of embedded flash memory in Taiwan and internationally.

Vietnam Commercial Bank for Industry and Trade

Market Cap: ₫272.6t

Provides various banking products and services in Vietnam and internationally.

China Taiping Insurance Holdings

Market Cap: HK$80.7b

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

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.

KT

Market Cap: ₩15.1t

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

Eneva

Market Cap: R$51.6b

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

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.

Menora Mivtachim Holdings

Market Cap: ₪30.7b

Operates in insurance and finance sectors in Israel.

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.

BIM Birlesik Magazalar

Market Cap: ₺453.6b

Operates retail stores in Turkey, Morocco, and Egypt.