Coupang rallies as record fine removes uncertainty

Coupang Inc. shares surged after South Korea's privacy regulator imposed a record fine on the US-listed e-commerce giant over a massive customer-data leak, with investors reading the penalty as a coda to a six-month overhang on the stock.

Shares of Coupang closed at $17.25 on Friday, up 14.1 percent from the previous day on the New York Stock Exchange, marking one of the company's strongest single-day gains in recent months.

The rally came despite the Personal Information Protection Commission's ...