Break the ends off the asparagus and cut in half. Trim the shallots and cut them to the length of the asparagus. Place both in a steamer for 2-3 minutes until the asparagus is tender. Remove from the steamer.
Spread beef slices on a board and lay 2 asparagus and shallot pieces onto each piece of meat. Roll the beef around the vegetables and trim the ends.
Heat oil in a frying pan and brown the rolls. Remove from the pan and set aside.
Combine all sauce ingredients in the frying pan and cook for 5-6 minutes, until reduced. Return the beef rolls to the pan and toss around to coat with the sauce.
You shouldn't need to secure the beef rolls if you handle them with care, but it may be worth having a few toothpicks on hand, just in case.
To serve, cut each roll into four and arrange on a serving plate. Serve with wasabi.
Note: Sake is a Japanese rice wine available from Asian supermarkets. While there are some reports suggesting it has numerous health benefits, like all other alcoholic beverages it should be consumed in moderation. Unlike white wine and dried fruit, it contains no sulfites, which can cause asthma-like symptoms.