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3 ASX blue chip shares I’d buy in today’s sell-off

It hasn’t been a good start to the week for the share markets this morning as fears over the coronavirus epidemic escalate. At the time of writing, the S&P/ASX 200 (INDEXASX: XJO) is down 1.52% to 6,910 points, firmly under the psychologically important 7,000 points threshold. That’s starting to feel like a long way from the top of the 7,132 we were looking at just two weeks ago.

But in falling markets, there are always opportunities for the ASX shares you’ve been wanting to add to your portfolio. Here are three ASX blue chips I think are looking attractive in this sell-off.

A2 Milk Company Ltd (ASX: A2M)

The a2 Milk share price has been walloped today, down around 4.4% at the time of writing to $13.87 per share. Considering that just over six months ago this was a stock trading over $17, this leads me to think today might be a great time to pick up some a2 Milk shares at their current level.

A2 Milk is a large exporter to China and so has been feeling the heat more than the average company over the coronavirus fears. However, I don’t see these issues impacting a2 Milk’s bottom line over the long-term. Thus, I think the a2 Milk share price is in the buy zone today.

BHP Group Ltd (ASX: BHP)

BHP is another company that’s feeling the burn today – down 2.72% at the time of writing to $38.30 per share. This is the lowest the Big Australian has been at since early December – so the current BHP share price might represent a buying opportunity if you’ve had your eyes on this mining giant.

BHP’s trailing dividend yield at today’s prices implies a hefty 5% dividend yield (which would be 7.14% grossed-up). Shareholders are probably still reeling from the mountains of cash BHP has returned over the last year or two, so today might be a good time to join this club if you appreciate a nice dividend.

Westpac Banking Corp (ASX: WBC)

The Westpac share price is again trading near 7-year lows after enduring a 2.15% drop in trading today. This banking giant has been in the wars over the past six months, but that’s not stopping Westpac shares falling even further today in this market sell-off.

However (and just like BHP), these falls have pushed up the trailing dividend yield for Westpac to over 7% (10.11% grossed-up). Whilst many commentators are expecting a dividend cut from Westpac sometime this year, it might still be a good opportunity to grab shares of Australia’s oldest company on the cheap!

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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