Power Play: Bullish case for emerging Asia

Sightseeing point of the 632-meter-high Shanghai Tower is under construction in Shanghai, March 22, 2015.
ChinaFotoPress | Getty Images

China's economy grew seven percent in the first three months of 2015 compared to the same period a year earlier. That's the slowest pace since 2009, but one veteran strategist is not concerned.

Darin Richards, chief investment officer at AKT Wealth Advisors, tells CNBC's "Power Lunch" on Wednesday he has an overweight on emerging Asia, with a bias toward China and India.

Read More China grows at slowest pace since financial crisis

"Although growth is slowing, the quality of growth is more domestically focused rather than export focused, as has been the plan for the last few years. Strong relative growth and low valuations make Chinese stocks attractive," Richards said.

His bullish stance on India is based on growth. "The IMF recently upgraded Indian growth to 7.5% for 2015, up from the 6.3% forecast made in January. Lower oil prices and reforms are contributing to the faster projected growth," Richards said.

The Bombay Sensex is flat this year, but the Shanghai Composite has soared 36 percent.