ASX 200 shares have had a wild ride in 2020 with the S&P/ASX 200 Index (ASX: XJO) slumping 13.47% lower.
However, it hasn't been all bad news with some companies surging in value. While I think the ship has sailed on some ASX growth shares like Afterpay Ltd (ASX: APT), there are still some Aussie companies I'd like to buy.
Here are a few at the top of my watchlist as we head into June 2020.
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3 ASX 200 shares I'd like to buy today
I don't mind a bit of a speculative play in a diversified portfolio and that's where Woodside Petroleum Limited (ASX: WPL) comes in.
I think the geopolitics and ongoing oil price war will make the Woodside Petroleum share price volatile in 2020. The Aussie oil producer's shares are down 33.8% this year but where there is risk there is potential reward.
OPEC+ has slashed production in recent months and the global economy is starting to hum back to life. That's good news for Woodside with higher demand for oil and energy expected over the coming months.
For a less speculative play, I think Westpac Banking Corp (ASX: WBC) is worth a look. The ASX 200 bank share has fallen 27.86% lower this year but could be in the buy zone.
We know Westpac has had its fair share of issues over the last 12 to 18 months and I think a share price correction is justified given the uncertainty created by the coronavirus pandemic. We could also see real estate come under pressure and further writedowns.
Having said that, the share market is inherently forward-looking. Also, Westpac is still churning out billion-dollar profits. I think it will continue to be a strong ASX 200 dividend share if I'm investing for the next decade.
Finally, Domain Holdings Australia Ltd (ASX: DHG) is definitely on my list of cheap shares I'd buy today.
Many Aussies are hoping to see a property correction in 2020 before buying into the market. However, I'm not so sure this will happen. There is a lot of support for owner-occupiers and property investors right now. While we might see the market adjust slightly in September, I still think listings will recover which will be good news for this ASX 200 media share.
Foolish takeaway
These are just a few themes that I think are going to impact ASX 200 shares in 2020. That being said, it's important to be strategic with your investments and make sure you're looking at the next 10 years rather than the next 10 weeks.
