when a wave of confidence swept through Australia's financial markets as investors got caught up in the euphoria surrounding Sydney's successful bid for the 2000 Games.

The stock market jumped 30 points or 1.6 percent and the local dollar surged nearly 50 US cents before calming down as investors digested the business impact of winning the Games.

"It was a positive sentiment swing and that's going to be underlying the market for the next while,'' said Mr. Paul Lodge, trader at Melbourne-based Austock Brokers Pty.

The All Ordinaries Index ended up 18 points at 1,946.5, while the Australian dollar closed at US$0.6516/21 after climbing to a high of $0.6557/63 earlier in the day.

"The main impact from the Olympics will come from the boost to confidence,'' said a senior economist at the Commonwealth Bank of Australia.

The buoyant mood in Australia's financial market contrasted starkly with that in Hong Kong, where stocks tumbled as Beijing's loss dashed hopes that the colony would enjoy a financial bonanza.

Hong Kong's Hang Seng Index slid 80.34 points or 1.06 percent to 7,500.66, unwinding recent gains fuelled by overconfidence that Beijing would win the International Olympic Committee's vote.

Analysts said staging the 2000 Olympic Games would be an economic windfall for Australia, where a struggle to emerge from the country's worst recession in over 60 years has kept business confidence low and unemployment stubbornly high.

"It should be a good confidence-builder for the country,'' said Prime Minister Mr. Paul Keating.

Although the Sydney Games, per se, are expected to make only a small profit, bringing in revenues of $975 million (US) after costs of $960 million, the financial effects will be much more widespread.

Some politicians expect the Olympics to inject about A$7.3 billion ($4.8 billion) into the economy, add about 160,000 full and part-time jobs and boost tourism by 1.4 million people over the next seven years.

*** THE makers of Listerine are trying to add one more item to America's daily health-and-beauty regimen of brushing, flossing, showering, moussing, shaving, deodorising and moisturising.

Warner-Lambert Inc. has installed gallon-sized dispensers of its Cool Mint Listerine in restrooms at six restaurants in Baltimore and Dallas to promote the concept of a post-lunch gargle.

The New Jersey-based manufacturer is hoping to promote the idea of swirling and spitting to keep afternoon bad breath at bay, dental hygiene at its peak, and Listerine use on the rise.

For one patron at Burke's Restaurant, a Baltimore eatery participating in the promotion, the idea was a bit much.

"It doesn't fit in with my way of finishing a nice lunch -- to fill my mouth full of alcohol and flavouring,'' said one customer.

"I figure if you're trying to cover up what you're having for lunch, you may want to reexamine what you're having.'' Attorney Albert Figinski said ending his meal of sour beef and potato pancakes by gargling didn't seem strange to him.

"Not if you smoke a cigar in between them,'' he said, puffing on an after-lunch stogie.

In a telephone survey of 1,000 people nationwide, 68 percent of those who ate lunch away from home said they would use mouthwash during the day if it was more convenient, said a spokeswoman for Listerine.

Thirty-two percent of Americans who eat lunch away from home already use a mouthwash after the meal, she said.

Listerine is the leader in the mouthwash industry, accounting for a third of the market.

"I wouldn't say it's one of the last ways to expand the category, but it certainly is a way to expand the category,'' said a Warner-Lambert spokesman.