As most investors would be aware of by now, it hasn't been a good few weeks for the Australian stock market and the S&P/ASX 200 Index (ASX: XJO).

The ASX 200 has slumped by another horrid 1.5% so far this Wednesday, dragging the index below 7,800 points. Since the index has now fallen more than 10% from its most recent record high (as of this morning's lows anyway), the ASX 200 is now officially in correction territory. For whatever that's worth.

By the traditional definition, the index needs to fall another 10% or so (20% from its peak) to officially enter stock market crash territory.

If (and that's a big if) the stock market continues on its current trajectory, that might come sooner rather than later.

But this prospect does not bother me in the slightest. In fact, I would welcome it.

The ASX 200 has had an extraordinary run over the past two years or so. After shaking off a rough 2022, the index spent 2023 and 2024 in positive territory, minting dozens of new record highs last year and over the first six weeks of 2025.

Why ASX investors should welcome a stock market crash in 2025

Whilst this has been great for anyone who has a substantial portion of their wealth in the stock market, it has also had the effect of making bargain buys harder to find. Almost any ASX share that is perceived to be of a high calibre has exploded in value over the past few years.

Whether it be Commonwealth Bank of Australia (ASX: CBA), Wesfarmers Ltd (ASX: WES), TechnologyOne Ltd (ASX: TNE), or REA Group Ltd (ASX: REA), most experts would have agreed that, at least as of mid-February, these stocks had become woefully overvalued.

Yet all of these companies, plus many more, have dramatically come off the boil since last month.

Take TechnologyOne. This ASX tech stock has fallen by more than 15% since the middle of last month. REA has fared similarly, while CBA is down more than 13%.

If you believe these companies have a bright future ahead of them, as I do, then the chance to buy shares for these kinds of discounts would be welcomed.

If the stock market falls any further, then the deal becomes even more compelling. So that's why the notion of a stock market crash in 2025 doesn't bother me in the slightest. I think all ASX investors should be thinking about which ASX shares they can pick up on sale right now.