Although the Australian share market is rebounding today, it's still trading a long way from its recent highs. In light of this, now might be an opportune time to consider entering the market.
If you're looking to invest $10,000 into the share market, then it could be worth considering the two ASX shares listed below. Here's why I rate them as buys:
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CSL Limited (ASX: CSL)
The first ASX share I would recommend investors look at is CSL. Particularly with the biotherapeutics giant's shares down 15% from their highs. This weakness has been caused by concerns over plasma collection headwinds, which appear to be easing now.
In addition, at the same time that supply is increasing, the company is implementing the recently FDA-cleared Rika Plasma Donation System across its collection centres. This new technology has been designed to enable the collection of more plasma in shorter periods of time.
Looking further ahead, the company's investment in research and development means it has a pipeline of potentially lucrative therapies to support its growth, along with the impending acquisition of Vifor Pharma.
All in all, this appears to have left CSL well-positioned to deliver solid earnings growth over the long-term, which could make its shares a great buy and hold option.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Another ASX share that could be a quality option for a $10,000 investment is Domino's. It is one of the world's largest pizza chain operators with approximately 3,200 stores across the ANZ, Asia-Pacific, and European regions.
Its shares have lost more than 40% of their value in 2022 for a number of reasons. These include a softer than expected performance during the first half in Asia, inflation concerns, and a de-rating of growth shares.
While this is disappointing, I think it could be a buying opportunity for long-term focused investors. Particularly given the company's bold expansion plans and strong balance sheet.
The former sees Domino's planning to grow its store network to 6,650 stores by 2033. Whereas the latter provides management with opportunities to pursue suitable acquisitions through its One Brand, One Focus strategy.
So, with Domino's shares trading on much lower than average multiples at present, now could be an opportune time to pounce.
