It hasn't been a positive start to the week for the ASX share market to say the least. At the time of writing, the S&P/ASX 200 (INDEXASX: XJO) has shed 2.2% and is sitting on 6,981 points – down nearly 3% from last week's all-time high.
But in every drop, there lies opportunities. ASX blue chips have had a stellar start to 2020 so far, and until this week many of the favourite blue chips had been priced to perfection.
But here are 3 ASX blue chip shares that I think are looking just a little bit more attractive in today's market sell-off.
Wesfarmers Ltd (ASX: WES)
Wesfarmers is one of the most favoured blue chips out there. Its frankly staggering portfolio of underlying businesses (which includes Bunnings, Kmart and Target, among many others) provides its owners with huge levels of diversification and stability. This has been shining through in Wesfarmers' share price performance this year, and it was only last week that the company hit a new all-time high of $47.42 a share.
That's why I think today's share price (at the time of writing) of $44.08 is a decent pullback and a possible buying opportunity.
CSL Limited (ASX: CSL)
CSL is one of those companies that seems to be always priced for heavy growth and almost never lets new investors get in at 'a bargain'. Last week, CSL shares made a new all-time high of $342.75 (I'm sensing a theme here), but today are going for $326.08.
It's not a massive dip but one that could prove attractive in hindsight, considering this stock's history (as a brief reminder, CSL shares were trading at $189 a year ago today).
Platinum Asset Management Ltd (ASX: PTM)
Platinum is a riskier bet in today's market. This is a share that's worth less today than 5 years ago, after all. But I still think this company might be a bargain today. Platinum shares have fallen 7.24% after opening after the company reported its half-year earnings last week. That was despite Platinum reporting a 21.4% increase in profits and maintaining its interim dividend. This dividend gives Platinum a 6.26% trailing yield that comes fully franked.
As a value-style asset manager, Platinum has been struggling in recent years in an investing environment that continues to reward growth investing. However, I think all styles have their time in the sun, and Platinum's long and proud history will pull it through this tough time, in my view.
Foolish takeaway
From where I'm standing, I think these 3 ASX shares are showing some value in today's markets. It's hard to know what the future holds, but the last few years have shown us that 'buying the dip' can be a good way to accumulate your favourite companies.
