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There are a number of recent posts about PD's inability to work with several Asian fonts, which is somewhat ironic since Cyberlink is a Taiwanese company. Please see this post, and especially the link in my post there for possible workarounds.
You should also use Rate Us & Provide Suggestions from PD's File menu to request broader text support in future editions.
Thanks for the response!
I found the solution, so I thought I should post it in case anyone else has the issue.
I couldn't find anything by Googling in English, but Googling in Thai takes you to some solutions.
If you install the font "TH Sarabun New" (I got it from f0nt.com), you can use it to render the text correctly. In Windows, it's just a case of running the font file and it gives the option to install it. Then restart PowerDirector and start to use "TH Sarabun" in all titles/subtitles.
Maybe there's a similar solution for other languages that are affected, like Hindi.