S&P/ASX 200 Index (ASX: XJO) shares are down 0.6% amid the US Fed cutting rates and Australia's jobless rate holding steady.
The benchmark index has fallen 2.33% in September so far, as the hype and excitement of last month's earnings season dies down.
The ASX 200 rose by 2.63% during August, but it certainly wasn't a great period for every company.
On The Bull, experts have identified three ASX 200 shares that have fallen by 20% or more over the past month that they say are worth holding for now.
Let's take a look at their reasoning.
3 ASX shares worth holding despite substantial price falls
James Hardie Industries plc (ASX: JHX)
The James Hardie share price is down 37.2% over the past month.
Today, James Hardie shares are $28.56, down 3.6%.
Christopher Watt from Bell Potter Securities has a hold rating on the ASX 200 materials share.
Watt says:
The merger with US peer AZEK leaves James Hardie as a leading provider of exterior home and outdoor living solutions.
The acquisition could unlock substantial cost savings and significantly enhance commercial upside.
However, the key renovation market remains under pressure.
For now, investors may be wise to sit tight. Cost synergies remain to be seen from the acquisition.
CSL Ltd (ASX: CSL)
The CSL share price is down 26.4% over the past month.
Today, CSL shares are $199.73, down 0.67%.
Watt also has a hold rating on this ASX 200 healthcare share.
He says:
The biotechnology giant has outlined profit guidance of between $US3.45 billion and $US3.55 billion in fiscal year 2026, up between 7 per cent and 10 per cent in constant currency, alongside a $A750 million buy-back.
With a planned demerger of its vaccine division Seqirus by the end of fiscal year 2026, the business remains strategically sound.
At these levels, holding CSL Limited shares is a prudent choice.
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's Pizza share price has fallen 22.7% over the past month.
Today, Domino's Pizza shares are $14.56, up 0.52%.
John Athanasiou from Red Leaf Securities has a hold rating on this ASX 200 consumer discretionary share.
The analyst commented:
Domino's reported its first annual net loss since listing, driven by weak international sales, cost pressures and the closure of underperforming stores in Japan and France.
A statutory net loss of $3.7 million in fiscal year 2025 was impacted by one-off items.
A hold is appropriate as management rationalises the store network, improves operational efficiency and resets the growth strategy.
Athanasiou said the core business was resilient, with strong brand recognition in Australia and New Zealand.
Guidance is conservative, and while near-term catalysts for a rebound are limited, long term investors should wait for evidence of a recovery before taking new positions.
Guess which company director just bought $5 million worth of Domino's Pizza shares?
