Australian shares finished lower on Friday, as sliding iron ore and copper prices dragged down the materials sector. The S&P/ASX 200 index ended down 0.8 percent, or 45.66 points, at 5,739 by the close of trade. The benchmark was off 0.4 percent on Thursday.
China's iron ore futures slid nearly 5 percent and were headed for a weekly loss, coming off a rapid rally underpinned by expectations that strong infrastructure spending would spur steel demand in the world's top consumer.
Copper prices also tumbled as worries about demand in China resurfaced after the country's housing minister suggested moves were afoot to stabilise the property market, while a firm dollar reinforced negative sentiment.
The S&P/ASX 200 materials index fell for a third straight session to more than a six-week low.
BHP Billiton, the world's largest miner by market capitalisation, slumped to over a seven-week low, its third successive day in the red.
Global miners Rio Tinto and Fortescue Metals Group Ltd dropped 4.2 percent and 3.4 percent, respectively.
Financial stocks also took a beating, weighed down by the "Big 4" banks that lost 0.2 to 0.7 percent.
New Zealand's benchmark S&P/NZX 50 index closed 0.4 percent, or 30.94 points lower, to finish the session at 7,058.58.