With the subprime mortgage crisis having stopped the U.S. economy in its tracks, investors are hopeful that continuing robust growth in Asia, particularly in China and India, will be the engine that drives the world economy. Asian markets have been dragged down by inflation fears and the U.S.-led debacle — the Shanghai Stock Exchange plunged 34.0 percent in the first quarter of 2008, and Hong Kong’s Hang Seng index fell 17.8 percent — but many investors remain bullish on the region. “The fall in values amounts to a correction in a secular bull market and not the end of the Asia growth story,” declares Adrian Faure, director of ­Asia-­Pacific Equity Research at ­Citi Investment Research in Hong Kong.

In stark contrast to fear of recession in the U.S., optimism about Asia abounds. “Around 10 percent growth...