Asian stocks ended the week on red

Asian stocks finished the week in red after sharp falls in commodity prices amid the increasing expectations that the US Federal Reserve will raise interest rates in December.

Crude prices hit two-and-a-half-month-lows on Thursday after the U.S. government reported a stockpile build four times above market expectations. West Texas Intermediate crude was last seen 0.5 percent lower at $41.55 a barrel in Asian trade.

Meanwhile, gold was stuck near a six-year low on Friday and copper also fell to its weakest level in more than six years, hurt by a strong dollar and persistent concerns over China's economy.

"We blame China's economic data for the latest drop in commodity prices, [especially] in copper. The close relation between the CRB index and the U.S. dollar broke down in June. The subsequent 9.6 percent decline in the CRB looks outsized against the 2.0 percent rally in the dollar index. We infer that China growth uncertainty displaced dollar as the driver of commodity prices," Tim Condon, head of research for Asia at ING Financial Markets, wrote in a note released Friday.

As such, major U.S.averages slumped more than 1 percent each overnight,as investors eyed several speeches from Fed officials that hinted at aninterest-rate hike next month. Wall Street posted its worst day since September 28, with the S&P 500 ending lower year-to-date for the first time since October 22 and the Dow Jones Industrial Average off more than 250 points.

China’s benchmark Shanghai Composite Index ended the session with a 1.4% decline, influenced mainly by commodity companies. With 5 % each fell shares of Baoshan Iron & Steel Co and China Northern Rare Earth. Shares of PetroChina and Sinopec fell by 1.9 and 2.1%.

Hong Kong's Hang Seng Index fell 2.2% after the aluminum producer Rusal reported a 11% drop in third-quarter profit and its shares fell 2.4%.

Japan's Nikkei 225 index recorded a decline of 0.5%, but appetite for banks helped to offset some losses.

Shares of Mitsubishi UFJ Financial Group rose 1.5% after the company announced a plan to buy back shares worth 100 billion yen.

Toshiba's shares fell 5.9% after the electronic giant confirmed that Westinghouse account losses in 2012 and 2013

The Australian index S&P ASX 200 reported a decrease of 1.5% and reached its lowest level since October 2, mostly because of unsatisfactory performance of companies in the resource sector.

South Korea's Kospi index recorded a decline of 1% and ended trading near six-week lows. Shares in Kia Motors and Hyundai Motor fell by over 2%.
The Malaysian economy grew at its slowest pace in more than two years in the third quarter - 4.7% and the benchmark KLCI recorded a decline of 0.1%.