New Zealand?s Nathan Astle, who scored 70, during the ODI against Australia at Docklands Stadium in Melbourne on Sunday. (AFP)

Melbourne: Hamish Marshall scored an unbeaten 50 to lead New Zealand to an emotional four-wicket win over Australia with two balls to spare in the first match of the inaugural Chappell-Hadlee one-day series on Sunday.

Black Caps fans celebrated loudly in the crowd of 30,753 as the world champions looked on stunned when wicketkeeper Brendon McCullum (20 not out) hit the winning run and raised his arms in triumph.

The 25-year-old Marshall, playing in his 28th one-day International, earlier reached his eighth half-century in the 49th over off just 52 balls.

?I?m delighted we turned it around so quickly (after two big losses in the two-Test series)?, captain Stephen Fleming said after his side celebrated with hundreds of beige-shirted fans, sporting the one-day tops worn on their 1980-81 tour of Australia.

Daniel Vettori and Chris Cairns had earlier taken three wickets apiece to limit Australia to 246 for nine in their 50 overs.

The Black Caps replied with 247 for six in 49.4 overs after Nathan Astle (70) and Mathew Sinclair (48) put on 128 for the second wicket.

Sinclair, who was dropped at second slip by Ponting on four, and Astle fell in quick succession as New Zealand lost three wickets for 12 runs to slump to 140 for four.

The target began to look daunting but Marshall and McCullum plundered 22 from a Michael Kasprowicz over, the 48th of the innings, to steer the visitors to victory.

?He didn?t get his length right. He was hoping to bowl some good quality yorkers... and it just didn?t happen,? Ponting said of Kasprowicz. ?We all make mistakes. Kasper?s bowled a few ordinary deliveries in that over but we?re certainly not blaming him.?

Fleming had won the toss and elected to bowl first on a drop-in wicket for the day-night match under a closed roof at the Docklands Stadium.

Left-arm spinner Vettori took three for 31 as the Australian middle-order initially struggled to build on the platform provided by opener Ad-am Gilchrist?s blazing 68 from 54 balls.

Darren Lehmann made 50 from 73 balls, combining with Michael Clarke (36) to provide some stability with a 71-run stand for the sixth wicket.

Left-hander Matthew Hayden (13) was superbly caught one-handed at deep square-leg by a diving Sinclair off Jacob Oram, ending a busy opening stand for Australia of 64 from 8.5 overs.

The second game of the three-match series is in Sydney on Wednesday with the final in Brisbane on Friday.