Australian shares are poised to fall on Monday, weighed down by renewed uncertainty in US-China trade relations ahead of high-stakes negotiations next week aimed at averting a fresh escalation in tariffs between the world's two largest economies.

Last Friday, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average each rose 0.5%.

In the macroeconomy, investors are eyeing key Reserve Bank of Australia's speeches this week, with Assistant Governor Brad Jones on Tuesday and Governor Michele Bullock on Friday.

In corporate news, Reece (ASX:REH) repurchased 28.1 million of its ordinary shares at AU$13 apiece, for AU$365 million in total, according to a Monday filing with the Australian bourse.

Zip (ASX:ZIP) said its cash earnings before tax, depreciation, and amortization rose past 98% year over year to AU$62.8 million in the fiscal first quarter ended Sept. 30, according to a Monday Australian bourse filing.

Australia's benchmark index fell 0.8% or 73.1 points to close at 8,995.30 on Oct. 17.