Moroccan Commercial Services Defensive Blue Chips

Tower Semiconductor

Market Cap: US$10.7b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Waaree Energies

Market Cap: ₹944.0b

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

Far EasTone Telecommunications

Market Cap: NT$331.7b

Engages in the provision of telecommunications and digital application services in Taiwan.

Hippo Valley Estates

Market Cap: US$1.4b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

First Horizon

Market Cap: US$10.5b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Enel Américas

Market Cap: CL$9.7t

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

James Hardie Industries

Market Cap: AU$16.2b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Globe Life

Market Cap: US$10.5b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Orkla

Market Cap: NOK 106.0b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

Huadong Medicine

Market Cap: CN¥73.8b

Engages in the wholesale and retail of pharmaceutical products in China and internationally.

Chongqing Rural Commercial Bank

Market Cap: HK$80.8b

Provides banking services in the People’s Republic of China.

Taiwan Mobile

Market Cap: NT$323.6b

Provides wireless communication services in Taiwan, the Republic of China, and internationally.

Banque Cantonale Vaudoise

Market Cap: CHF 8.2b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Bharti Hexacom

Market Cap: ₹914.7b

Provides mobile services, fixed-line telephone, and broadband services to end consumers under the Airtel brand in India.

Hong Leong Bank Berhad

Market Cap: RM 42.9b

Operates as a financial services company in Malaysia and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥73.2b

Beijing E-Town Semiconductor Technology Co., Ltd.

Rambus

Market Cap: US$10.3b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫269.6t

Provides various banking products and services for individuals, corporate customers, and financial institutions in Vietnam.

ICICI Prudential Life Insurance

Market Cap: ₹907.0b

Provides life insurance, annuity, pension, and health insurance products to individuals and groups in India.

Ensign Group

Market Cap: US$10.2b

Provides skilled nursing, senior living, and rehabilitative services.

KT&G

Market Cap: ₩14.9t

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

T&D Holdings

Market Cap: JP¥1.6t

Through its subsidiaries, provides insurance products and services in Japan.

Absa Group

Market Cap: R173.8b

Provides retail and business banking, corporate and investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Boubyan Bank K.S.C.P

Market Cap: د.ك3.1b

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

Vietnam Commercial Bank for Industry and Trade

Market Cap: ₫265.3t

Provides various banking products and services to individuals, businesses, and organizations in Vietnam and internationally.

Centrica

Market Cap: UK£7.6b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

BAWAG Group

Market Cap: €8.7b

Operates as a holding company for BAWAG P.S.K.

Bajaj Housing Finance

Market Cap: ₹888.1b

Provides housing finance services in India.

Piraeus Financial Holdings

Market Cap: €8.6b

Provides banking products and services in Greece and internationally.

Comerica

Market Cap: US$10.0b

Provides financial services in the United States, Canada, and Mexico.

Albertsons Companies

Market Cap: US$10.0b

Through its subsidiaries, operates in the food and drug retail industry in the United States.