ASX 200 shares had yet another day of gains on Wednesday as the S&P/ASX 200 Index (ASX: XJO) closed 0.06% higher at 6,148.40 points.
There was a mix of winners and losers on the share market yesterday from tech shares to gold miners and Aussie retailers.
Despite the market noise, there are still a couple of ASX 200 shares that I’m keeping my eye on right now. Check out why these top picks are on my watchlist below.
3 ASX 200 shares I’m watching in 2020
The first Aussie share that I’m watching is JB Hi-Fi Limited (ASX: JBH). JB Hi-Fi shares are up 11.49% this year and have delivered strongly for shareholders.
That’s despite the February and March bear market that sent ASX 200 shares plummeting lower.
JB Hi-Fi has really benefitted from a strong online presence and its extensive electronics range. More Aussies have been stocking up on laptops, monitors and other accessories in the move towards a work from home model.
It’s not just JB Hi-Fi shares that have been climbing in 2020. The NextDC Ltd (ASX: NXT) share price has rocketed 34.95% this year as demand for its services has surged.
NextDC owns and operates data centres around Australia and recently expanded its balance sheet with a $672 million equity raising.
While a 34.95% gain doesn’t scream a buy to most investors, I believe NextDC still has some strong growth potential with a good strategy and clear expansion steps.
One ASX 200 share to watch that hasn’t climbed higher this year is BHP Group Ltd (ASX: BHP). Shares in the Aussie miner are down 3.65% but have some strong momentum behind them.
With iron ore prices rebounding strongly at the moment, I think the BHP share price is worth watching in 2020.
These are just a few of the ASX 200 shares I’ve got my eye on right now. The share market volatility seems to have partially subsided since March and April.
This means right now could present a good opportunity to assess the real value of some of these companies without market noise.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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