O'Connor downs All Blacks

James O'Connor nailed a last-gasp conversion to fire Australia to a dramatic 26-24 victory over New Zealand, ending a 10-match losing streak against the All Blacks in the process.

The Wallabies raced into a 12-0 lead at Hong Kong Stadium but the Tri-Nations champions fought back to grab the lead and seemed poised to make it 11 wins in a row against their rivals.

The All Blacks held a 24-19 advantage as the clock ticked over to 80 minutes but were coming under increased pressure and O'Connor finally crashed over to tie the scores.

He then held his nerve to slot the conversion through the posts from out wide on the right to claim an incredible Bledisloe Cup victory.

Australia made the brighter start and full-back Kurtley Beale had two chances to open the scoring after New Zealand infringements, but the he was off target with penalties from the right.

The Wallabies kept up the pressure and made the breakthrough in the eighth minute as the ball was shipped out to Quade Cooper on the left, who went over in the corner.

Misses

Matt Giteau missed the conversion but All Blacks fly-half Dan carter then also squandered two kicks, sending one penalty into the upright and another wide.

Australia then pulled further clear with just over 20 minutes gone as Adam Ashley-Cooper broke through a weak tackle in midfield and sprinted away to score under the posts.

But that sparked New Zealand into life and they almost reduced the deficit when Kieran Reid sent the ball out to Keven Mealamu on the left but the hooker was held up over the line.

With 30 minutes gone, the All Blacks finally got on the scoreboard when scrum-half Jimmy Cowan picked up the ball from a ruck and darted over the line, with Carter adding the extras.

The turnaround was complete three minutes later as the ball was spread out to the right and Read played in winger Corey Jane, Carter's conversion giving New Zealand the lead.

Giteau then missed another penalty but Carter was on target for another three points and the All Blacks took a 17-12 lead into the half-time interval.

Front foot

Australia started the second half on the front foot, with captain Rocky Elsom just being unable to touch the ball down after forcing his way over the line.

Giteau then squandered yet another chance to reduce the deficit and was made to pay for his wasteful kicking when New Zealand extended their lead in the 53rd minute.

Richie McCaw broke free down the right hand side, the skipper powerfully shrugging off two defenders to gain valuable yards before he was eventually brought down.

The ball was then recycled to Ma'a Nonu and the centre was able to force his way over the line and Carter slotted the conversion through the posts.

Australia hit back with just over 60 minutes gone as Beale off-loaded to Drew Mitchell after an incisive run and the winger powered in at the corner. O'Connor reduced the gap to five points with a tough conversion from the left touchline.

New Zealand were now stretched but O'Connor could not haul in Berrick Barnes' pass following the replacement's break, before Carter missed another penalty to keep the Wallabies' hopes alive with four minutes left.

Australia surged towards their opponents' try-line and after keeping the ball alive as time expired, O'Connor managed to force his way over the line from close-range before converting his own try to snatch the win.