Serbian Telecom Defensive Blue Chips

Telefônica Brasil

Market Cap: R$98.2b

Operates as a mobile telecommunications company in Brazil.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$98.0b

Provides basic and environmental sanitation services in the São Paulo State, Brazil.

Krung Thai Bank

Market Cap: ฿635.9b

Engages in commercial banking business in Thailand and internationally.

Telenor

Market Cap: NOK 180.2b

Operates as a telecommunication company worldwide.

Hwatsing Technology

Market Cap: CN¥127.6b

Engages in the research, development, production, sales, and technical services of semiconductor equipment in China and internationally.

Telecom Italia

Market Cap: €16.5b

Engages in the fixed and mobile telecommunications services and products for individuals, households, and supports small and medium-sized enterprises in Italy and internationally.

Commercial Bank for Foreign Trade of Vietnam

Market Cap: ₫492.1t

Provides banking products and services in Vietnam.

Straumann Holding

Market Cap: CHF 15.3b

Provides tooth replacement and orthodontic solutions in Switzerland, the United States, China, Germany, Brazil, Japan, France, and internationally.

Bank of Hangzhou

Market Cap: CN¥124.5b

Provides various banking products and services in China.

Telia Company

Market Cap: SEK 183.0b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

QNB Bank

Market Cap: ₺904.2b

Provides various banking and financial services in Turkey.

Tyson Foods

Market Cap: US$18.5b

Operates as a food company worldwide.

SiTime

Market Cap: US$18.5b

Engages in the design, development, and sale of silicon timing systems solutions in Hong Kong, Taiwan, the United States, Singapore, and internationally.

SBI Life Insurance

Market Cap: ₹1.8t

Operates as a life insurance company in India.

ageas

Market Cap: €16.0b

Engages in insurance business.

Kasikornbank

Market Cap: ฿606.6b

Provides commercial banking products and services in Thailand and internationally.

Zimmer Biomet Holdings

Market Cap: US$18.2b

Operates as a medical technology company worldwide.

Saudi Awwal Bank

Market Cap: ر.س68.2b

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

Carlsberg

Market Cap: DKK 118.4b

Produces and markets beer, soft drinks, and other beverage products in Western Europe, Asia, Central and Eastern Europe, India, and internationally.

Vodacom Group

Market Cap: R293.6b

Provides communications products and services in South Africa, Egypt, Kenya, and internationally.

First Financial Holding

Market Cap: NT$571.6b

Provides various financial products and services in Asia, North America, Oceania, and Europe.

Saudi Energy

Market Cap: ر.س67.2b

Generates, transmits, and distributes electricity in the Kingdom of Saudi Arabia.

Wilmar International

Market Cap: S$22.8b

Operates as an agribusiness company in Singapore, the People's Republic of China, Indonesia, Malaysia, Australia, Europe, South Africa, Nigeria, Vietnam, India, and internationally.

Adani Energy Solutions

Market Cap: ₹1.7t

Generates, transmits, and distributes power in India.

National Bank of Greece

Market Cap: €15.5b

Provides banking, financial products, and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom, and internationally.

Xi'an ESWIN Material Technology

Market Cap: CN¥118.2b

Xi'an ESWIN Material Technology Co., Ltd.

Koninklijke KPN

Market Cap: €15.3b

Provides telecommunications and information technology (IT) services in the Netherlands.

Bank of Beijing

Market Cap: CN¥117.1b

Provides various banking services to individuals and corporates in China.

East West Bancorp

Market Cap: US$17.5b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

BE Semiconductor Industries

Market Cap: €15.2b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

Mashreqbank PSC

Market Cap: د.إ64.2b

Provides various banking and financial services to individuals and corporates.

Bankinter

Market Cap: €15.1b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 79.7b

Produces and supplies electricity from hydroelectric and wind sources in Romania.

Semtech

Market Cap: US$17.3b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

Pernod Ricard

Market Cap: €15.0b

Produces and sells wines and spirits worldwide.

ASR Nederland

Market Cap: €15.0b

Provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands.