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Reigning Moto GP champion Marc Marquez has won the Australian Motorcycle Grand Prix at Phillip Island, in a thrilling finish.

The Spanish star overtook Movistar Yamaha's Jorge Lorenzo on the last lap of a pulsating race to take the chequered flag for the first time in Australia.

Lorenzo finished second and Italian Andrea Iannone finished third on a Ducati, with Movistar Yamaha's Valentino Rossi coming in fourth.

Read more at FoxSports.com.au