2 ASX shares offering good value in this market sell-off

With the S&P/ASX 200 (ASX: XJO) down sharply again today, here are two ASX shares that offer a buying opportunity for long-term investors.

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With the S&P/ASX 200 Index (ASX: XJO) down sharply again today by over 9%, the market volatility is spooking a lot of investors and leaving many very disillusioned. I must admit even as a very experienced investor, I am feeling quite anxious today.

However, as negative thoughts enter my head, I remind myself about the fundamentals of share investing, and how troubling times like these can actually present investors with excellent buying opportunities.

Nobody knows whether or not we have hit the bottom of the current market crash. But what we do know for certain is that with share prices down very significantly on what they were a couple of weeks ago, the price-to-earnings (P/E) ratios of most shares are now much lower. This means shares can be purchased at much more favourable prices.

With that in mind, here are 2 of my top ASX share picks right now for investors with a long-term investment horizon.

Ramsay Health Care Limited (ASX: RHC)

Ramsay has evolved over the past few decades from a small Australian operation to become Australia's largest private healthcare provider, with operations spanning 11 countries globally.

The company has proved to be very capable at growing its revenue base from its existing facilities, as well as growing through acquisitions and new developments. Also, its global scale enables the company to spread its operating costs and provides Ramsay with a competitive advantage in negotiations with health insurers.

Ramsay's overall debt is relatively high, however, it appears to be manageable. Ramsay shares are currently trading with a trailing price-earnings ratio (P/E) of around 22, which is now looking very attractive for a high-quality ASX healthcare share.

WiseTech Global Ltd (ASX: WTC)

WiseTech is a leading global developer and provider of software solutions to the logistics industry and is a member of Australia's WAAAX group of tech shares. The company has a customer base that includes more than 12,000 of the world's logistics companies across over 150 countries.

There is no doubt that the impact on WiseTech's supply chains related to the Chinese market, in particular, has been quite significant recently. This has been one of the key reasons why the WiseTech share price has been impacted more than most over the past few weeks, falling by over 50% to today's closing price of $13.59.

I think the market has reacted too harshly and with the situation in China with regards to factories re-opening showing early signs of improvement, I think now could be a good buying opportunity. However, this is only if you are prepared to take a long-term outlook and prepared to tolerate probable further share price volatility going forward.

Motley Fool contributor Phil Harpur owns shares of WiseTech Global. The Motley Fool Australia owns shares of WiseTech Global. The Motley Fool Australia has recommended Ramsay Health Care Limited. 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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