Sydney - A big bounce on Wall Street saw Australian stocks make gains Wednesday, halting a five-day losing streak that had taken the market to a four-year low.

The ASX 200 quickly rose 154 points, or 4 per cent, to 3,948, but the rally ran out of steam, with the index closing up 51 points, or 1.3 per cent, to 3,845.

A local rally had been expected after the US blue-chip Dow Jones Industrial Average posted its second-largest point gain in history, following strong stock gains in Europe and Asia.

Sydney, Oct 28 : The cricketing law making body - the MCC has reportedly endorsed Aussie umpire Darrell Hair’s fateful decision to award the 2006 Oval cricket Test between England and Pakistan to the home side.

At its meeting that concluded in Delhi this week, the MCC said that the original result - a forfeit after Pakistan''s players refused to return to the field after being accused of ball tampering by Hair – “should stand”.

Sydney, Oct 28 : A former high school student of Lebanese descent, who developed a phobia of “young Asian men” after allegedly being stabbed at school, is suing the New South Wales Government for negligence.

The 26-year-old, who cannot be named for legal reasons as he “feared for his life”, after he was stabbed in the playground in an allegedly racially motivated attack at Birrong Boys High School in 1998.

The man, whose name was suppressed in the District Court today by Judge Len Levy, is suing the NSW Department of Education for breach of duty of care.

Sydney  - Australian stocks recovered from early losses Tuesday on positive leads from Japan and Hong Kong.