My all time favorite is Taiwanese actress Yeh Huan. She is gorgeous ,and have the best acting skills in all Asian actress I have seen(I have reason to support that).She cries in shows,dropping real tears(realer than anyone in the list) . But again acting is not only about knowing how to cry. I think the best acting combines both natural and tactical ability. Yeh Huan got both in her,she can bring out the most natural acting,and acting tactics that portray different emotion from time to time.
Charmaine Sheh is good also,she is very natural on screen but lack some acting tactics.
I like Gillian Chung too,she is pretty and cute but her acting needs a lot of improvement.