Australian players (from left) Phil Jaques, Brad Haddin and Glenn McGrath leave the field after New Zealand beat Australia in the second Chappell-Hadlee series cricket match at Eden Park in Auckland yesterday. - Reuters

WELLINGTON (Reuters)

Australia have lost their place at the top of the world one-day international rankings after New Zealand batted superbly to register a thrilling five-wicket victory over their rivals in Auckland yesterday.

The home side - 337 for five - successfully chased down Australia's record Eden Park total of 336 for four with eight balls to spare to win the Chappell-Hadlee Trophy for the first time and condemn the Australians to a fourth straight defeat in nine days.

"It was an amazing day, great for the game and great for us to get across the line in a big scoring match," New Zealand captain Stephen Fleming told a news conference.

"We've fallen short numerous times against Australia. It was great to feel the excitement in the stands."

South Africa, who beat Pakistan 3-1 in a recent home series, become the first team to replace Australia at the top of the ICC rankings since they were introduced in October 2002.

Massive total

The Australians looked to have recovered from their humiliating 10-wicket loss in Wellington on Friday after posting a massive total with stand-in captain Mike Hussey blasting 105 and Brad Hodge 97 not out.

However, New Zealand reached their victory target in the 49th over after Man of the Match Ross Taylor replied with 117 from 127 balls, and Peter Fulton made a composed 76 not out off only 65 deliveries.

The Australians have been under fire for their inexplicable form slump since reaching and losing the tri-series final at home to England, but Hussey said they were still on track for the World Cup.

"It's not ideal but I can say the spirit is OK. We can't afford to panic and start making wholesale changes," Hussey said.

"We have to trust our personnel, trust our own games and trust each other. I know if we keep working hard we'll be fine.

"I know big totals being chased down is an area of concern and we're going to have to get better at it, but I still think we've got the right people in the team and in the squad."

The third and final match of the series will be played at Hamilton tomorrow.