Australian shares fell 24 points, or 0.3%, to around 8,705 on Monday morning, marking a second subdued session as oil prices rose after Yemen's Houthis struck Saudi Arabia's capital, Riyadh. Locally, Reserve Bank of Australia Governor Michele Bullock struck a hawkish tone in parliament, warning that inflation remains stubbornly high and upside risks are materialising, keeping the risk of further rate hikes alive. Still, losses were capped by a notable rise in U.S. stock futures, while investors focused on the upcoming bilateral summit between U.S. President Trump and Chinese leader Xi Jinping at the White House Thursday. Healthcare, non-energy minerals and industrials led declines, while gains in consumer durables, utilities and technology provided some offset. Two of the four major banks slipped, while Nextdc Ltd. (-1.6%), Xero Ltd. (-1.5%) and Reece Ltd. (-1.3%) posted notable losses. Investors now await Australia’s flash September PMI and August labour-market data later this week.