Snap off tough ends of asparagus; arrange asparagus in a steamer basket over boiling water. Cover and steam 3 to 5 minutes or until crisp-tender.
Plunge asparagus into ice water to stop the cooking process; drain.
Combine shallots, vinegar, and next 4 ingredients; gradually whisk in 1/2 cup olive oil, blending well. Drizzle over asparagus. Serve immediately.