Brokers are telling clients to pounce on “oversold” ASX-listed companies like James Hardie, Lovisa, and WiseTech after the meltdown in global equity markets this week created a tantalising buying opportunity.

The S&P/ASX 200 plunged nearly 6 per cent across Friday and Monday in the worst two-day rout since the outbreak of COVID-19 in 2020, fuelled by US recession fears and a rapid unwinding of the Japanese yen carry trade.