Asian markets fell in the week with investor sentiment turning negative following the disappointing corporate earnings in the U.S. indicating that the global economic growth momentum continues to falter.

Japan's Nikkei 225 Stock Average declined 0.8 percent and closed at 8933.06.  South Korea's Kospi Index fell 2.7 percent and closed at 1891.43.

Markets confidence was weighed down with the U.S. corporate earnings missing the estimates. For the third quarter, McDonald's reported a net income of $1.46 billion or $1.43 per share net income, down from $1.51 billion or $1.45 per share in the same period last year and below the analysts’ expectation of $1.48 per share. Inc reported the third quarter net loss of $274 million or $0.60 per share compared to the net income of $63 million or $0.14 per share in the same period last year.  Logitech International reported that its net sales in the second quarter fell 7 percent to $547.69 million, down from $589.20 million in the same quarter last year.

Market sentiment turned negative as Japan reported Monday a rise in trade deficit in September compared to the same month last year with a decrease in exports and increase in imports. Japan’s Finance Ministry data showed that the country recorded a 558.6 billion yen ($7.0 billion) trade deficit in September, compared to a surplus of 288.8 billion yen last year.

Exports dropped 10.3 percent in September from a year earlier, indicating the soft global demand. Meanwhile, imports rose 4.1 percent in September from the previous year as the nuclear energy crisis has resulted in the increased need of oil and gas.

Market confidence was lifted after the U.S. Census Bureau’s new home sales data showed upswing in house purchases.  The data, which measure the annualized number of new single-family homes that were sold during the previous month, rose to 389,000 in September up from 373,000 in August.

Japan’s government announced Friday a stimulus package of 422.6 billion yen ($5.3 billion) as a measure to bolster the weakening economy and revive the economic growth momentum.

Meanwhile, South Korea’s gross domestic product grew at 0.2 percent in the July-September period, down from a 0.3 percent rise in the previous quarter.

Hong Kong's Hang Seng Index marginally dropped 0.03 percent and closed at 21545.57. China's Shanghai Composite Index fell 2.9 percent and closed at 2066.21.

According to the preliminary HSBC Flash Purchasing Managers Index (PMI) released Wednesday, the preliminary reading of the PMI, a measure of the nationwide manufacturing activity, rose to 49.1 in October compared to 47.9 in September. However, since the PMI is below 50, it indicates that the manufacturing economy is declining.

Market sentiment plunged Friday following the weaker-than-expected quarterly earnings from Apple in the after-hours trading. The company reported a net profit of $8.2 billion or $8.67 per share in the fourth quarter which was below the analysts’ expectation of $8.75 per share.

India's BSE Sensex was down 0.3 percent and closed at 18625.34. 

Investors maintained a cautious mode amid the revival of concerns of the debt burden faced by the euro zone with persisting financial instability in Greece. The data published Monday by the Bank for International Settlements  showed that banks in the core euro zone economies -- Germany, France, the Netherlands, Belgium, Austria and Finland -- reduced their exposures to the five major peripheral economies -- Italy, Spain, Greece, Portugal and Ireland -- by around 100 billion euros ($126 billion) in the second quarter.

Major losers: Shares of Canon Inc fell 3.4 percent. Shares of Fanuc Corp declined 5.4 percent and those of China Unicom dropped 5.8 percent.