Wyndham Street at the junction with Queen's Road Central.
On the right is an advert for "The Shield of Honor", a 1927 American silent movie, released on February 18, 1928.
The Hong Kong Telegraph reports that the movie was presented at the Queen's Theatre on 1928-04-07.
The sedan chair stand is on the left.
The car driving down Wyndham Street is obviously one of the first cars registered in Hong Kong, it bears the number 4.