International expert Yiannis Mostrous has long been a fan of global telecom stocks as ways US investors to access emerging markets. In his The Silk Road Investor, he looks at favorite plays on Russia, Indonesia and the Philippines.

"Philippine Long Distance Telephone (NYSE: PHI) reported solid 2008 results, with revenue rising 7% from 2007 levels to USD800 million. Profits were up 13% to US $200 million.

With its own economic stimulus program in place, a relatively stable banking system, and a stock market that has been resilient in recent months, numerous leading global investment advisors are looking bullishly towards China.

From technology to power, and from individual stocks to ETFs, and from Hong Kong to Taiwan to mainland China, we turn to seven leading advisors for their favorite ways for US investors to take a stake in Asia.

"There are signs that the credit logjam that's frozen markets around the world in recent weeks may be breaking," states global expert Keith Fitz-Gerald. In his Money Map Reporter, he suggests that investors begin scaling in to new positions in Templeton Emerging Markets Fund (NYSE: EMF).

The advisor explains, "Assuming historical relationships remain true, Asian markets, followed by South American and European markets -- in that order -- have the most to gain coming out of this crisis.

"The other thing that history shows is that deep corrections tend to turn out to have been spectacular buying opportunities in retrospect, particularly when the credit markets that drive them relax. This is usually about six months prior to recognized recoveries.

"Templeton Emerging Markets Fund is trading at a 12% discount to net asset value and offers a 16.9% yield. Fully 58.2% of its assets are concentrated in and around the Asian region, which is running the highest cash reserves as a percentage of GDP on the planet.

"We plan to scale into a position in Templeton Emerging Markets Fund over the next few months. This not only keeps our overall risk down, but it helps us average in cost effectively."

Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.

Writing from Japan, while speaking at an economic conference, Mark Skousen looks to opportunities in Japan's stock market for his latest buy.

In his top notch trading service, The Hedge Fund Trader Alert, he says, "Surveying the landscape in Japan, two things are perfectly clear: the market and the currency here are both extremely cheap."

"The Nikkei 225 reached 40,000 back in 1989. Today, almost 20 years later, it is around 12,600 -- more than two-thirds lower.

"The yen also is cheap, due in part to ultra-low interest rates. Many international investors are playing a dangerous game, borrowing money in yen at low rates and lending it out in other currencies at higher rates in order to earn 'the spread.'

"This works fine until the yen begins to surge. Then there will be massive buying of the Japanese currency, as traders rush to cover their bets. That day is not here yet. But when it arrives, we may see one of the most dramatic currency surges ever witnessed in modern financial markets.

"A jump in the yen, however, would not be good for Japan's largest companies. Most of them -- such as Toyota, Honda, Sony, Canon and Mitsubishi -- are major exporters.

Will investors soon get over worries about losses from subprime mortgages? As Doug indicated this morning, the answer for now is "nope." Today overseas markets are definitely paying attention to renewed fears about credit markets. The Dow was down over 56 points yesterday and today, Asian market sectors including banking, brokerage and insurance took a plunge as well. Francis Lun with Hong Kong's Fulbright Securities told MarketWatch, "After the drop on Wall Street, people are wary about further write-downs related to subprime mortgages."

With earnings season just kicking off today with Alcoa's second quarter results after the close, should we also be bracing for worse-than-expected reports from banks and brokerages? Today hat's the sentiment in Hong Kong and other Asian markets, where the Hang Seng index fell 3.2% in overnight trading and the Nikkei lost 2.5%.

Asian regional markets were sitting on the same worries pressuring U.S. markets, according to David Cohen with Action Economics. He posited that most Asian indexes were under pressure "from the same forces weighing upon markets globally, hostage to oil prices, and fears of stagflation." This morning at least, investors are bracing for U.S. markets to get worse before they get better.

Japan's Nikkei Index, the weighted average of 225 stocks in major companies, fell for the 10th day. That has not happened since 1965.

According to the FT, "Rising fears about the impact of inflation on slowing economies took their toll on Japanese and other Asia-Pacific markets." That sounds a bit like the current trouble in the US.

A number of other indicies have had sharp declines lately. The Shanghai Composite has fallen by more than half since late last year. Rising energy and food costs in China have not helped it. Neither have concerns that a recession in the West could cut demand for its exports.

The Nikkei news says two things. The first is that the economies in other large nations may be as troubled as that in the US. Traders often look out several quarters when they make their buying or selling decisions. But, the second, more ominous sign from the Nikkei's decline is that it says that the smart money in Japan believes that the price of oil is not likely to fall. Japan is relies more on imports of crude that the US does.

The tough run for the Nikkei is not restricted to Japan. US and EU markets are likely to set records of their own, and not the kind that traders look forward to.

Douglas A. McIntyre is an editor at 247wallst.com.

"Thailand had a political crisis in 2006, when the democratically elected government was overthrown by a military coup," recalls international investing expert Mike Burnick.

"But the country is emerging from its crisis with a fresh pro-growth mandate," he notes in his Global Market Investor. Here, he looks at a closed-end fund for those seeking to play this trend.

"Thailand experienced a sharp stock market crash and 18 months of political chaos. But now, the crisis appears to have passed. In March, the Thai military stepped aside, and a newly elected government was installed in Bangkok, which looks a lot like Thailand's old government under Thaksin!

"In fact, the newly elected government chose a cabinet that is packed with allies of the former prime minister. Bangkok is also busy pursuing the same pro-growth agenda with an emphasis on tax cuts and government infrastructure spending. . . . And the plan is working.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My favorite speculative, home run idea for 2008 is Man Sang Holdings, Inc.," says Tony Sagami, editor of The Asia Stock Alert.

He explains, "I run at a pretty fast pace when I'm in Asia. Every day is packed with factory tours, meetings with company executives, pestering government and university leaders for their local knowledge, and hitting the streets to see with my own eyes if the zealous Investor Relations departments are feeding me overly optimistic projections.

"When I was in China in May, I completely turned my schedule upside down after visiting Man Sang Holdings, Inc. (ASE: MHJ). I re-scheduled and postponed my entire South China schedule because what should have been a one-hour meeting at Man Sang turned into two full days of tire kicking and fact checking.

"Man Sang Holdings, together with its subsidiaries, is one of the leading pearl merchants in Greater China. The company primarily sells to jewelry manufacturers, wholesale jewelry distributors, and mass jewelry merchandisers, such as QVC, in the US, Europe, and Asia.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My top speculative idea for 2008 is Alibaba.com (HK: 1688), which trades on the Hong Kong exchange," says Yiannis Mostrous, editor of The Silk Road Investor. "Alibaba.com was one of the biggest IPOs of the year and although the initial excitement has subsided, the longer-term story remains intact.

"Alibaba's business is simple. Companies can post products for sale or purchase from Alibaba's web site for free. It charges suppliers from China and Hong Kong an annual fee of as much as US$8,027 to become premium members. A similar service is offered to suppliers from other regions for an annual fee of US$589.

"Alibaba.com is the flagship company of the Alibaba Group that includes Taobao, which operates an online shopping marketplace for consumers in China; Alipay, China's leading online payment service; Yahoo! China and Alisoft, an internet-based business management software company targeting small and medium enterprises in China.

"According to the latest statistics, China was home to 162 million internet users at the end of June, second only to the US. The country is expected to surpass the US as the world's largest web market by users next year.

"Given the company's high valuations, viewing it as a speculative play should be the right approach for now. But don't underestimate its potential if the markets and the economy remain reasonable strong entering 2008. Buy Alibaba up to HK$50."

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My favorite conservative idea for 2008 is China Mobile (NYSE: CHL)," says Tony Sagami, editor of The Asia Stock Alert. "Because of instant delivery and low cost, text messaging has rapidly become a wildly popular means of communication among young people.

"Text messaging over SMS (Short Messaging System) wireless systems is very popular in America. But one country sends more text messages than anybody else in the world: China.

"One out of every two SMS text messages sent in the world are sent in China. Typically, the cost of a text message in China costs about 10 fen (or 1 cent), so we're talking about a mountain of money. Indeed, in China mobile phone users are expected to send over 1 trillion text messages by the end of this decade.

"For investors, that gargantuan growth spells opportunity. And in China, the company poised to serve and profit from this trend is China Mobile, the largest wireless phone company in the world with 356 million subscribers and a dominant share of the rapidly growing Chinese wireless market.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My favorite speculation for 2008 is Indian retail banking giant ICICI Bank Ltd. (NYSE: IBN), my top play on India's booming market," says Nick Vardy, editor of The Global Stock Investor.

"With 614 branches and 2,200 ATMs across India, ICICI's doing an impressive job at bringing modern retail banking to India. ICICI has a diverse portfolio of high-quality, high-margin mortgage, consumer and auto loans. And it is busy adding new financial products such as life and general insurance to sell to this customer base.

"ICICI is also turning into a true global bank. The bank already operates in 14 countries through branches, representative offices and subsidiaries. Indeed, you now see ICICI's bank featured as the mortgage lender of choice in personal finance pages in London newspapers.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"Aluminum is one of our favorite commodities for 2008 and the best leveraged play on aluminum is Australia-based Alumina (NYSE: AWC)," explain co-editors Roger Conrad and Yiannis Mostrous in Vital Resource Investor.

"The company, our top conservative pick for 2008, owns 40% of Alcoa World Alumina and Chemicals, which, in turn, holds the world's largest, low-cost portfolio of quality bauxite and alumina assets.

"Having the world's largest integrated bauxite mining and alumina refining system (it provides approximately 13% of the world's alumina supply) in one place is the company's main attraction.

"As energy, raw materials and freight costs continue to increase, Alumina's setup makes its operations increasingly competitive and low cost versus those of rivals.

"We're excited about the prospects for participation in the dynamic Hong Kong stock market through the iShares MSCI Hong Kong Index (ASE: EWH), our latest new buy," says Jim Trippon.

In his China Stock Digest, the advisor explains, "The ETF provides us with access to the Hong Kong Exchange's best equities, stocks which are usually inaccessible to foreign investors."

"This exchange-traded fund provides many of the benefits usually attributed to a mutual fund without the high expense ratio that some funds charge. As an ETF, the shares can be bought and sold as quickly and easily as any stock on the New York Stock Exchange.

"EWH uses a 'passive' or indexing investment approach, which attempts to approximate the investment performance of its benchmark index compiled by Morgan Stanley Capital International (MSCI).

"The EWH Fund does not match exactly the high-flying and well-known Hang Seng Index, which continues to set records, topping the 30,000 mark in October. In tracking the Morgan Stanley Capital International Index, EWH is based on a portfolio of large cap, value-oriented equities.

China stock expert Jim Trippon recently issued new buy recommendation on SINA Corp. (NASDAQ: SINA), which operates four Chinese-language web portals.

In his China Stock Digest, the advisor says, "We believe that SINA has a degree of diversity, brand strength and earnings growth potential that puts it ahead of the competition."

Trippon explains, "We believe SINA is uniquely positioned to rise in profitability with increasing web penetration in the Mainland and beyond. SINA Corporation is in the ambitious business of bringing Chinese language web access to Greater China and the rest of the world."

SINA, he notes, operates four Chinese-language web portals, serving the PRC, Hong Kong, Taiwan, as well as Chinese-speaking people in North America. The company has more than 230 million registered users worldwide and 600 million daily page views.

"One of the strongest investment themes is the global commodities supercycle," notes Nick Vardy. He explains, "Now is a good time to pick out potential winners such as Australian mining giant, BHP Billiton Ltd. (NYSE: BHP)." The

The editor of The Global Bull Market Alert says, "I expect BHP Billiton to perform particularly strongly as we move closer to the traditional fourth quarter rally."

For one thing, he notes, BHP's retiring CEO Chip Goodyear reassured investors that the recent financial market turbulence would not hurt BHP's growth -- and that commodity prices would remain strong for some time.

He suggests, "BHP recently had conducted a survey of its major customers around the world to see if their demand for commodities would be dented by the fallout from the U.S. subprime mortgage crisis. The results? The United States was slowing down, but in developing economies such as China and India it's 'essentially business as usual.'