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Australia set an Olympic record to win gold in the 4x100m women's relay.

The Netherlands, who won gold in Beijing and are the reigning world champions, claimed silver, with the United States taking the bronze.

Great Britain's quartet of Amy Smith, Fran Halsall, Jessica Lloyd and Caitlin McClatchey were third at the halfway point but eventually finished fifth.

Halsall gave GB hope of a bronze with her swim on the second leg, with just Australia and the US in front of them.

But the Dutch made a late surge to grab second, with China also overtaking the Brits.

"At the World Championships last year, we didn't make the final," said Halsall. "We were ninth, so it shows how much we have improved."