Australian shares are poised to fall on Monday as renewed US-Iran strikes and escalating tensions around the Strait of Hormuz stoke concerns over global oil supplies.
Oil prices remain elevated after the Organization of the Petroleum Exporting Countries left its October output policy unchanged, while disruptions to crude exports through the strategic waterway limit the producer group's ability to influence supply.
On Sept. 4, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.4%, 0.3%, and 0.5%, respectively.
In the macroeconomy, the ANZ-Indeed job ads report is due at 11:30 am Sydney time.
In corporate news, Ingenia Communities Group (ASX:INA) rejected an unsolicited AU$4.75-per-security cash takeover proposal from Warburg Pincus, saying the offer "substantially undervalues" the company and is not in the best interests of its security holders.
Austal (ASX:ASB) has confirmed it held initial discussions with Wildcat Infrastructure but has not received a formal proposal, following media reports of a potential approach.
Australia's benchmark index fell 0.2%, or 14.2 points, to close at 9,005.90 on Sept. 4.