Fast bowler Shane Bond captured five wickets as New Zealand dismissed Australia for just 148 in Friday's first Chappell-Hadlee one-day match on Friday.

Bond demolished the Australian batting line-up to finish with figures of 5-23 and leave the Kiwis chasing a modest total for victory in the opener of a three-match series on a lively Basin Reserve pitch.

The visitors were missing five key players -- Ricky Ponting, Adam Gilchrist, Andrew Symonds, Brett Lee and Michael Clarke -- but their absence was only partially responsible for the batting collapse.

Beaten 2-0 by England in the tri-series finals last week, the Australians have struggled for form in their last few matches and are danger in falling below South Africa as the world's top one-day team if they lose in New Zealand.

Stand-in captain Mike Hussey top-scored with 42 off 96 balls while Brad Hodge (22) and Brad Hogg (20) both made starts but only two other players reached double figures.

Bond, who took a hat-trick against the Australians in Hobart last month, continued his success against them with a supreme display of fast bowling.

He removed replacement opener Phil Jacques (one) and Gilchrist's standby wicketkeeper Brad Haddin (six) in his first spell, then took a superb one-handed catch to remove the dangerous Cameron White (13) in his second spell.

Bond completed his fourth five-wicket haul in one-day internationals when be clean bowled Nathan Bracken for a duck then Hogg to polish off the Australian innings inside 50 overs.

However, there was some concern for the hosts when big all-rounder Jacob Oram injured a finger after taking a routine catch off Mitchell Johnson and was rushed to hospital for X-rays.