The ASX supports it is because they make money from it. VERY SIMPLE. The more activity on the market the more money they make. For every trade that goes through they make something from that sale and purchase. They believe short selling creates liquidity in the market which means, with liquidity comes turnover. Turnover means dollars to the ASX. If that means mum and dad investors get burnt in the process that's tough luck. Personally it's a practice that should have been out lawed years ago but I have already given you the reasons why it hasn't been. The last time they stopped it was during the GFC for a short period. That was to encourage people to get back into the market.
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