Hong Kong stocks extend losses as Ukraine war feeds recession risks while city lockdown, tech crackdown concerns linger

• Sell-off on Hong Kong stocks deepened as Tencent and NetEase slid after China’s political delegates proposed tightening control over the gaming industry
• Hang Seng Index members traded at the widest discount to book value in at least a decade; Alibaba bucked the sell-off with a rebound from record low