Financially struggling China Eastern Airlines plans to buy 20 Airbus A320 jets following an agreement last week with the European aircraft maker.

An airliner that crashed in northern China exploded seconds after take-off and “broke into flaming fragments” before plunging into an ice-covered lake, killing 54 people, but investigators found no evidence of terrorism, reports said today.

Share prices closed the morning lower tracking the overnight falls on Wall Street amid caution in the lead up to the first anniversary of the Sept 11 terrorist attacks next week, dealers said.

Shares prices closed lower in cautious trade, with Wall Street's overnight performance seen as a mere short-term rebound rather than indicating a genuine improvement in sentiment, dealers said.