Australian shares fell 24 points, or 0.3%, to around 8,705 on Monday morning, extending a second subdued session as oil prices rose after Yemen's Houthis struck Riyadh. Reserve Bank of Australia Governor Michele Bullock told parliament that inflation remains stubbornly high and upside risks are materialising, preserving the risk of additional rate hikes. Gains in U.S. stock futures limited the decline as investors looked ahead to the Thursday White House summit between U.S. President Trump and Chinese leader Xi Jinping. Healthcare, non-energy minerals and industrials fell, while consumer durables, utilities and technology advanced. Two of Australia's four major banks declined, alongside Nextdc Ltd., Xero Ltd. and Reece Ltd. Investors are awaiting Australia's flash September PMI (purchasing managers' index) and August labour-market data later this week.