The markets are not having a good week, to put it lightly. The S&P/ASX 200 (INDEXASX: XJO) has lost another 1.43% at the time of writing and is sitting at 6,615 points. But weeks like this can be great opportunities to pick up shares for a discount – like any market, the ASX does have a sale from time to time.
So here's how I would spend $10,000 on ASX shares that are looking cheap today.
Australia and New Zealand Banking Group (ASX: ANZ)
ANZ shares have been under pressure for weeks now. Sluggish growth and dividend/franking cuts have been dampening sentiment of late, and the woes of ANZ's banking stablemate Westpac Banking Corp (ASX: WBC) have done nothing to help.
But ANZ shares are now going for $24.20 (at the time of writing), which is getting close to the 52-week low of $22.98 that we saw last Christmas. That means that anyone who picks up ANZ shares today will be banking a juicy starting yield of 6.61%, which grosses all the way up to 8.6% even at 70% franking.
Thus, I think ANZ shares would be a great buy for any retiree or income investor today.
Zip Co Ltd (ASX: Z1P)
Zip shares have already been under some pressure over the past week or so after the company successfully completed a $60 million placement capital raising. But this week's market volatility has pushed Z1P shares down to $3.56 at the time of writing, which is nearly 10% cheaper than this time last week.
Thus, I think if you're bullish on Zip or even BN-PL in general, this could be a great time to pick up this ASX growth stock.
It's not just Zip feeling the pain today – arch-rival Afterpay Limited (ASX: APT) is also nursing some heavy losses and is currently down 4.5% to $29.14 if you're interested in this space.
Foolish takeaway
ANZ and Zip Co are just 2 of the shares that I think are looking attractive at today's prices. There are many more shares for sale out there, so get shopping!
