The Wall Street Journal reports: "U.S. stocks slipped Tuesday as investors remained cautious on the heels of a sharp selloff. The Dow Jones Industrial Average gave up earlier gains, falling 95 points, or 0.6%, to 17055. The S&P 500 dropped 0.3%, on track for a fourth day of losses, which would be its longest losing streak in nearly two months. The Nasdaq Composite dropped 0.6%....The Shanghai Composite Index closed down 0.3% Tuesday after Chinese officials outlined a raft of measures to stabilize markets. A 7% drop in mainland Chinese shares on Monday had triggered circuit breakers that shut down the market and sent ripples through bourses world-wide. The Dow Jones Industrial Average saw its greatest opening-day loss since 2008 as sharp declines in China rekindled fears of slowing global growth...Chinese authorities acted on several fronts to calm investors Tuesday. The stock market regulator said that it would release guidelines about large-scale selling of shares ahead of a ban on selling by large stakeholders that is expected to expire on Friday."
Reuters reports: "China's first landing of a plane on one of its new island runways in the South China Sea shows Beijing's facilities in the disputed region are being completed on schedule and military flights will inevitably follow, foreign officials and analysts said....Vietnam said the plane landed on Jan 2 and launched a formal diplomatic protest, while Philippines Foreign Ministry spokesman Charles Jose said Manila was planning to do the same. Both have claims to the area that overlap with China. ''That's the fear, that China will be able take control of the South China Sea and it will affect the freedom of navigation and freedom of overflight,' Jose told reporters....The United States has no claim in the South China Sea, but has been highly critical of China's assertiveness and says it will protect freedom of navigation."
The Wall Street Journal reports: "China is close to winning its first starring role in Hollywood. Chinese real-estate and entertainment conglomerate Dalian Wanda Group Co. is moving toward completing a deal for a majority stake in Legendary Entertainment that would value the U.S. film and television company at nearly $4 billion, according to people close to the transaction....If completed, a deal would make Wanda the first Chinese owner of a major Hollywood production and finance company and move China closer to its goal of becoming a global film powerhouse."