UPDATE 1-Golf-Australia's O'Malley takes day one lead in China

(Updates at end of day)

By Ian Ransom

SHANGHAI, April 24 (Reuters) - Australian journeyman Peter O'Malley fired a first-round 67 to take a one-stroke lead over a clutch of players at the BMW Asian Open on Thursday.

The 42-year-old carded six birdies to overhaul morning leaders Henrik Stenson of Sweden, Finland's Mikko Ilonen, Briton Oliver Wilson and Jeev Milkha Singh of India, in sunny conditions at the Tomson Shanghai Pudong Golf Course.

"I played really well, I haven't played like that lately," O'Malley told reporters. "I drove the ball well, I hit every fairway I can't really fault anything today."

After picking up four birdies and a bogey in his first nine holes, O'Malley took the lead in style, sinking a 45-foot putt on the par-four sixth, his 15th hole, giving him every chance of clinching his first European Tour win in seven years.

World number 13 Stenson got off to a flying start with four birdies in his first seven holes, finishing strongly with a birdie on his last after two mid-round bogeys.

The Swede, currently second on the European order of merit, will be keen to make amends after losing to Spain's Gonzalo Fernandez-Castano in a play-off here two years ago.

"Obviously you don't want to bring back the memories of how it felt five minutes after losing a play-off, but I enjoy myself here," Stenson said.

Singh, 2006 Asian order of merit champion, said his putter made up for a few wayward tee-shots in a five-birdie round only marred by a dropped shot on the sixth, his 15th hole.

"I would prefer good putting to good ball striking any day," Singh told reporters at the $2.3 million European and Asian Tour co-sanctioned event.

Australia's Scott Hend, who in the morning charged into first place with an eagle on the par-five second, now trails the leaders by two after a disappointing double bogey towards the end of the round to card a three-under 69.

2005 U.S. Open champion Michael Campbell of New Zealand and Australia's Greg Norman are among a clutch of players four strokes off the pace after posting one-under 71s.

Norman, making a rare European Tour performance, was unhappy with a mix of three birdies and two bogies.

"There was a bit of rust in concentration, two bad club selections, which you should never do," Norman said.

Twice U.S. Open champion Retief Goosen overcame a horror start to finish five off the pace on even par, holing four birdies to cancel out four bogies in his first seven holes. (Editing by Martin Petty)