This post is part of a special report, Top Picks for 2010, the 27th annual survey in which TheStockAdvisors.com asks the nation's leading advisors for their single favorite stock for the new year. See all 80 stocks listed here.

"My top investment idea for 2010 is T. Rowe Price New Asia (PRASX)," says long-standing fund expert Walter Frank.

In his The MoneyLetter, which has been published for more than 30 years, he explains, "What attracts us to the fund is the weight it gives to both China and India." Here's his review.

"T. Rowe Price should be the first fund family to consider if you want to increase your exposure to emerging market equities," says Mark Salzinger and Sheldon Jacobs.

The editor of The No-Load Fund Investor explains, "Price has a fine general emerging market stock fund, along with the broadest lineup of regional emerging market funds, all guided by experienced, successful managers."

Among the Price funds, they note, "Price New Asia (PRASX) is our current favorite among Price's emerging market stock funds, and we recommend it strongly now as a speculative play on our favorite emerging region."

China, they add, accounts for 28.2% of New Asia's assets.They note, "China is fiscally the strongest of all the emerging market countries. Its economy is growing in the 10% plus area, exports are booming across various manufacturing sectors, and foreign exchange reserves recently reached $1 trillion and are headed even higher."

Meanwhile, India accounts for 27.2% of the fund's assets, they note. Salzinger and Jacobs explain, "Though India's stocks are expensive by traditional valuation measures, it offers an entrepreneurial dynamism that is the envy of much of the rest of the world. Also, India's consumer class is booming, partially thanks to increased incomes from outsourcing to India from companies in the developed world."

South Korean stocks, at 12.7% of assets, make up the next largest weighting, while Taiwan accounts for 9.7% of assets. "In South Korean, valuations are relatively low and R&D spending is relatively high." Taiwan, they suggest, acts as a "back door avenue to growth in Mainland China."

Each day, Steven Halpern's TheStockAdvisors.com features the latest investment ideas and market commentary from the financial newsletter community.