With the markets having a slow start to the week yesterday, it might be a good time to consider adding some cheaper shares to your portfolio. Rising markets are always a nice time to already be owning shares, but for anyone looking to deploy additional capital into the markets, the story isn't so sweet.
With that said, here are 2 ASX shares that I think might just be the best options for any value investors out there today.
Westpac Banking Corp (ASX: WBC)
Westpac shares have had a pretty nasty couple of weeks – falling from around $29 late last month to yesterday's closing price of $26.45. This big four bank hasn't impressed investors with its $2.5 billion capital raise as a cut to its final dividend payout – leaving it at 80 cents per share.
Even after the cut, on today's prices it is offering a starting yield of 6.05% (annualised), which is still amongst the highest yields you can get from any of the banks as well as most blue-chip ASX shares. Thus, I think Westpac might be showing good value today.
A2 Milk Company Ltd (ASX: A2M)
a2 milk used to be one of the hottest ASX growth shares on the market – until it wasn't. Back in late July, A2M shares would have set you back around $17.30 – today you can pick some up for $12.02. News that this dairy giant had missed earnings and was abandoning plans to expand into the UK market sent investors spinning.
Still, I think a2 is a great company – and still has plenty of room to grow in Australia, the US and China. Sentiment tends to swing hard when it does swing, and I think the market is a little bearish on this company at the moment, meaning it's a great time to pick up some shares
Foolish takeaway
I think these 2 ASX shares are looking cheap today and represent some of the best value for money deals that the ASX is offering. If you're more focused on income, Westpac is definitely a better fit, but if growth is more your thing, a2 might be a better choice.
