Taiwanese Tech Defensive Blue Chips

Ping An Bank

Market Cap: CN¥212.7b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

Veeva Systems

Market Cap: US$30.7b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

Banca Monte dei Paschi di Siena

Market Cap: €25.8b

Provides retail and commercial banking services in Italy.

STMicroelectronics

Market Cap: €25.7b

Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Power Corporation of Canada

Market Cap: CA$41.2b

An international management and holding company, provides financial services in North America, Europe, and Asia.

Power Grid Corporation of India

Market Cap: ₹2.7t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Foshan Haitian Flavouring and Food

Market Cap: CN¥208.1b

Foshan Haitian Flavouring and Food Company Ltd.

MetaX Integrated Circuits (Shanghai)

Market Cap: CN¥208.1b

MetaX Integrated Circuits (Shanghai) Co., Ltd.

Naturgy Energy Group

Market Cap: €25.3b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

Koninklijke Philips

Market Cap: €25.4b

Operates as a health technology company in North America, the Greater China, and internationally.

Bank of Ningbo

Market Cap: CN¥207.2b

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

Hang Seng Bank

Market Cap: US$29.6b

Provides various banking and related financial services to individual, corporate, commercial, and small and medium sized enterprise customers in Hong Kong, Mainland China, and internationally.

Montage Technology

Market Cap: CN¥204.6b

An integrated circuit (IC) design company, provides IC-based solutions for cloud computing and data center markets in the People’s Republic of China.

ABN AMRO Bank

Market Cap: €24.9b

Provides various banking products and financial services to retail, private, and business clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

Kraft Heinz

Market Cap: US$29.5b

Manufactures and markets food and beverage products in North America and internationally.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥202.9b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

BPER Banca

Market Cap: €24.6b

Provides banking products and services for individuals, and businesses and professionals in Italy and internationally.

Citizens Financial Group

Market Cap: US$29.0b

Operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions in the United States.

Atmos Energy

Market Cap: US$28.8b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

GigaDevice Semiconductor

Market Cap: CN¥198.6b

Engages in the research, development, technical support, and sale of memory, microcontrollers, and sensors.

Constellation Brands

Market Cap: US$28.7b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

Veolia Environnement

Market Cap: €24.1b

Designs and provides water, waste, and energy management solutions.

Avenue Supermarts

Market Cap: ₹2.6t

Engages in the business of organized retail and operating supermarkets under the D-Mart brand name in India.

China Unicom (Hong Kong)

Market Cap: HK$221.2b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Sampo Oyj

Market Cap: €23.8b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

Gulf Development

Market Cap: ฿874.0b

Generates and sells electricity and steam to public and private clients in Thailand and internationally.

George Weston

Market Cap: CA$38.2b

Provides food and drug retailing, and financial services in Canada.

Bank Mandiri (Persero)

Market Cap: Rp469.0t

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

Nestlé India

Market Cap: ₹2.5t

Engages in the manufacture and sale of food products in India and internationally.

Bank of Jiangsu

Market Cap: CN¥191.4b

Provides various banking products and services in China.

China Everbright Bank

Market Cap: CN¥191.4b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

Credicorp

Market Cap: US$27.7b

Provides various financial, insurance, and health services and products in Peru and internationally.

Woolworths Group

Market Cap: AU$38.7b

Operates retail stores in Australia and New Zealand.

Willis Towers Watson

Market Cap: US$27.6b

Operates as an advisory, broking, and solutions company worldwide.

Nanya Technology

Market Cap: NT$861.4b

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.

National Bank of KuwaitK.P

Market Cap: د.ك8.4b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.