The mood in markets has shifted quickly.
After a period of volatility driven by rising oil prices and geopolitical tension, the agreement on a ceasefire between the US and Iran has helped ease some of that pressure.
Oil prices have pulled back and equities have responded, with the ASX pushing higher as risk appetite returns.
That kind of environment can create opportunities and here are five ASX 200 shares I would be looking at as the market rebounds.
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Wesfarmers Ltd (ASX: WES)
Wesfarmers is one of the more dependable shares on the ASX 200.
What I like here is the consistency across its portfolio. Bunnings continues to perform well, Kmart's value positioning remains strong, and the broader group has shown it can grow earnings even in a mixed environment.
As sentiment improves, I think shares like Wesfarmers can quietly keep compounding.
It may not be the most exciting stock in a rebound, but it is one I would feel comfortable owning through different market cycles.
Hub24 Ltd (ASX: HUB)
Hub24 is another ASX 200 share I'd buy as the market rebounds.
It operates an investment platform used by financial advisers to manage client portfolios, which puts it at the centre of a growing part of the wealth management industry.
What stands out to me is how embedded these platforms become once advisers and their clients are onboarded. That tends to create a sticky and steadily growing base of funds under administration.
As confidence returns, I think there is also potential for renewed inflows as investors re-engage with markets.
For me, it is the combination of structural industry growth, recurring revenue, and operating leverage that makes Hub24 an appealing long-term opportunity.
Codan Ltd (ASX: CDA)
Codan brings exposure to a different set of themes.
Its communications and defence-related technologies, including links to drone and counter-drone systems, place it within an area that is seeing increasing global demand.
Governments and organisations are continuing to invest in security and communications capabilities, and Codan is positioned within that ecosystem.
That combination of underlying demand and improving sentiment is interesting to me.
WiseTech Global Ltd (ASX: WTC)
WiseTech is one of the more polarising shares on the ASX 200 right now.
The share price has pulled back significantly, and concerns around AI disruption, acquisition integration, and business model changes have weighed on sentiment.
But when I look at the business, I still see a company building out a global logistics platform with strong long-term potential.
As the market rebounds, I think there is scope for sentiment to stabilise.
If the company can continue to execute and demonstrate progress, even modestly, that could support a recovery over time.
Breville Group Ltd (ASX: BRG)
Breville adds a consumer-facing growth angle.
What I like here is the global expansion story. The company continues to grow through new product development and increasing its presence in international markets.
Its premium positioning also appears to be holding up, even in a more cautious consumer environment.
As conditions improve, I think businesses with strong brands and global reach can benefit from a recovery in spending and sentiment. Breville ticks these boxes.
Foolish takeaway
Market rebounds can feel encouraging, but I think it is important to stay focused on the underlying businesses.
Wesfarmers offers consistency, Hub24 provides platform-driven growth, Codan brings exposure to defence and communications, WiseTech represents long-term software potential, and Breville continues to expand globally.
They are very different companies, but each has drivers that go beyond short-term market moves.
