Australian shares stumbled 1 percent on Friday after weak Chinese trade data stoked further fears of global economic slowdown, while financials led declines as heads of the country's top banks faced parliamentary questioning. The S&P/ASX 200 index fell 60.10 points to 6,203.80 at the close of trade. The benchmark rose 0.3 percent on Thursday.
Mining stocks ended 1.2 percent lower as China's iron ore imports fell to a 10-month low in February while coal arrivals for the month nearly halved from January. China is Australia's largest importer of raw materials. Global miner BHP Group Ltd slid 1.3 percent, while peer Rio Tinto Ltd fell 1.6 percent. Iron ore miner Fortescue Metals Group Ltd dipped 1.5 percent.
New Zealand's benchmark S&P/NZX 50 index edged up to finish the session at 9,440.27. The benchmark advanced 1 percent this week, its fifth straight week of gains.