Australian shares fell 45 points, or 0.5%, to 9,218 in early trading on Monday, extending losses for a second session as U.S. stock futures weakened amid growing doubts that the U.S. and Iran will soon reach a deal to reopen the Strait of Hormuz. Caution also lingered ahead of the Reserve Bank’s policy decision later this week, as sticky costs cloud the outlook despite three hikes so far this year. Data from main trading partner China added to the unease, with July inflation easing to a six-month low and producer prices rising the least in three months, underscoring soft demand. Financials led declines: the big four banks fell between 1.4% and 4.6% after Westpac’s soft Q3 update. Insurers followed lower, with QBE (-2.3%), Insurance Australia (-2.5%) and AUB Group (-1.7%) among the laggards. Losses also spread to consumer durables, commercial services and logistics. Offsetting the weakness, miners advanced, with BHP (1.1%), Northern Star (1.8%) and Evolution (1.5%) posting solid gains.