Shanghai slips 1%
Chinese shares ended the week at a three-week low of 2,036 points after seeing range bound trade all of Friday.
The cut in Reserve Ratio Requirements for rural banks and pending earnings results put lenders in the spotlight for the day. China Minsheng Banking widened losses on late Friday to over 1 percent.
China Construction Bank and Agricultural Bank of China climbed 0.3 and 0.4 percent each.
The biggest loser for the day was Kweichou Moutai with a nearly 7 percent loss, after posting its weakest quarterly profit in three quarters amid a graft crackdown in the mainland.
Guanghui Energy rose nearly 5 percent after it announced plans to issue preferred shares in a bid to raise 5 billion yuan ($800 million) in a private placement pending regulatory approval. This marks the mainland's first-ever sale of preferred shares.
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Seoul falls 1.4%
South Korea's benchmark Kospi index ended the week at its lowest level since March 28 following a series of soft earnings announcements.
Hyundai Motor dropped 2.5 percent after reporting a smaller-than-expected quarterly profit on the back of a strong Korean won.
Korea Electric Power tumbled 4 percent on the back of a 40.1 percent on-year decline in operational profit for the first-quarter of 2014.
Traders will be looking out for the January-March operating profit of smartphone maker Samsung Electronics which fell into negative territory at the last trading hour. Its shares lost 0.6 percent.
Meanwhile, U.S. President Barack Obama arrived in Seoul at midday for his week-long Asia tour.