Bitcoin was trading around $85,500 at 4 p.m. ET, well off its overnight high of more than $91,300, and other major cryptocurrencies like Ethereum and Solana also sold off sharply. CHARLY TRIBALLEAU / AFP via Getty Images Close Major stock indexes pulled back as the final trading month of the year began, with shares of big tech and cryptocurrency-tied firms falling amid risk-off sentiment. The blue-chip Dow Jones Industrial Average, benchmark S&P 500, and tech-heavy Nasdaq closed down 0.9%, 0.5%, and 0.4 ...

BREAKING: Trillion-Dollar Club Now Boasts 11 StocksCoupang stock fell sharply Monday after the operator of South Korea's top e-commerce site acknowledged a major data breach. The fall adds to a recent slide that has taken a bite out of a strong year-t0-date rally for Coupang (CPNG).The data breach exposed names, phone numbers, email and shipping addresses, and order information for 33.7 million customer accounts, according to Coupang's website. The data does not include login credentials or credit card numb ...

Korea’s Coupang says data breach exposed nearly 34M customers’ personal information https://t.co/EyPTNWNvYo ...

Core Insights - Coupang's stock experienced a significant decline in New York following the company's apology for a data breach affecting 33.7 million customers' personal information [1] Company Summary - The breach involved the personal information of 33.7 million customers, which has raised concerns regarding data security and customer trust [1]

Core Points - Coupang, South Korea's largest online retailer, experienced a nearly 9% drop in pre-market trading due to unauthorized access to personal information of 33.7 million customer accounts [1] - The company, often referred to as the "Amazon of South Korea," is known for its "Rocket" fast delivery service, which is widely used by many South Koreans [1] - An investigation is ongoing, and the company is cooperating with law enforcement and regulatory agencies [1] Company Summary - Coupang's pre-market price was reported at $25.70, reflecting a decrease of $2.46 or 8.74% from the previous close [2] - The closing price on November 28 was $28.16, with a trading volume of 5.0719 million shares [2] - The company's market capitalization stands at $51.438 billion, with a total share count of 1.827 billion [2] - The stock has a 52-week high of $34.075 and a low of $19.020, indicating significant volatility [2]

Core Insights - South Korean police are investigating Coupang for a significant data breach, marking the worst incident in over a decade in the country [1] Group 1 - The police are tracing IP addresses related to the data breach [1] - Investigations are focusing on potential technological vulnerabilities within Coupang's systems [1]

A data breach at Coupang has exposed personal information of nearly 34 million customers.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The eCommerce company, considered the “Amazon of South Korea,” revealed the b ...

Dec 1 (Reuters) - Australia's AUB Group said on Monday its suitors EQT and CVC Asia Pacific had walked away from takeover talks that valued the insurance broker at A$5.25 billion ($3.44 billion), send... ...

Group 1 - Luo Yonghao revealed that the recording with Hua Shan contains no significant revelations, but highlights Hua's inconsistent behavior, leading to confusion about his dual nature [5][6] - The recording includes a lot of profanity, making it unsuitable for direct upload to social media, prompting Luo to consider alternative sharing methods [6] - The dispute originated from Hua Shan's support for a rival restaurant, which angered Luo, leading him to demand a public apology [6] Group 2 - Reports indicate that China FAW is set to acquire a stake in Leap Motor, with a preliminary shareholding of around 5% expected [8] - Leap Motor's chairman, Zhu Jiangming, emphasized the importance of maintaining control within the founding team, even with external investments [8][9] - Leap Motor's financial performance shows a significant project launch expected to contribute to future sales, with a strategic partnership already established with China FAW [9] Group 3 - Chery has seen a recent influx of former executives from Great Wall Motors, indicating a strategic shift in its management team [10] - The company reported a 13% year-on-year increase in sales, with a total of 2.289 million vehicles sold from January to October [10] Group 4 - Chang'an Automobile announced plans to invest 2.25 billion yuan to establish a robotics company, focusing on humanoid robot technology [12][13] - The new company aims to develop multiple robotics sectors, with the first vehicle-mounted robot expected to be unveiled in the first quarter of next year [12] Group 5 - The CEO of Meituan, Wang Xing, expressed strong opposition to "involutionary" competition in the food delivery market, asserting that price wars are unsustainable [18] - Meituan has seen a steady recovery in market share, particularly in higher-priced order segments, holding over 70% of orders above 30 yuan [18] Group 6 - The IPO counseling for Yushu Technology has been completed, indicating readiness for the IPO application process, which could be one of the largest tech listings in recent years [19] - Yushu Technology has undergone significant preparatory work, including a name change to align with national branding strategies [19] Group 7 - Former Tesla executives revealed that the company had dismantled several Chinese electric vehicles to learn from their designs, particularly in parts reuse [31][32] - This practice has influenced Tesla's own vehicle models, showcasing the competitive landscape in the electric vehicle sector [31] Group 8 - Coupang, a major South Korean e-commerce platform, experienced a significant data breach affecting approximately 33.7 million accounts, marking one of the largest cyber incidents in the country [46][47] - The company has taken steps to enhance security measures and is cooperating with authorities in the ongoing investigation [47]

Economic Developments - China's economy is showing further signs of weakness, with the official manufacturing PMI at 49.2, indicating eight consecutive months of contraction, while the non-manufacturing PMI fell to 49.5, marking its first contraction in nearly three years [3][7] - The persistent economic slump in China is attributed to a prolonged real estate crisis, domestic price competition, and global trade turbulence, which may impact global supply chains and commodity markets [3][7] Cybersecurity Incident - Coupang, South Korea's e-commerce leader, confirmed a data breach affecting approximately 33.7 million customer accounts, marking it as potentially the largest hack in South Korea's history [4][7] - The compromised data includes personal information such as names, email addresses, and shipping addresses, while payment details remain secure [4] Geopolitical Tensions - Rising tensions between Japan and China have led to the cancellation of the only direct flight from Ibaraki Airport to China, affecting tourism and local businesses [5][7] - Chinese airlines are reducing services to Japan, and travel warnings have been issued, resulting in a significant drop in Chinese tourist bookings [5] Banking Sector Scrutiny - Italy's Treasury is defending its actions regarding Monte dei Paschi di Siena amid a judicial probe concerning the legality and transparency of share placements with key investors [6][8] - The ongoing inquiry could impact investor confidence in the Italian banking sector [8] Market Activity - Despite regional uncertainties, Hong Kong's equity capital markets are showing robust activity, with Morgan Stanley and Goldman Sachs playing key roles in the IPO market [9] - Hong Kong ranked first globally in IPO funds raised for the first half of 2025, with proceeds reaching US$14.1 billion, reflecting improved investor sentiment and supportive policies [9]