The market's growth stars are wilting under the scrutiny of extreme valuations and short-seller interest, but the most significant force deflating the ASX's growth stocks might just be increased optimism around global growth.

The tremor of J Capital Research's second attack on WiseTech Global was felt by losses in the broader $30 billion WAAAX basket (WiseTech, Appen, Afterpay, Altium, Xero) on Monday. WiseTech shares did not trade on Tuesday and the rest of the WAAAX were either flat or lower except for Afterpay, which Morgan Stanley said had been oversold.