I agree to some extent but I would substitute what you said about the Fed basing it's policy on what it is good for the US for the FED inventing policy for what is good for the global banking sector.
Hong Kong will always align with the dollar for as long as we're alive, it still doesn't take away some of the blame from the US and more specifically unelected Federal Reserve bankers for spending it's/their way into oblivion and for committing trillions upon trillions in cocaine QE money for bankers to gamble with in London, NYC and Hong Kong, which in turn has the unintended or perhaps intended consequence of driving up risk "assets"; which happens to include Hong Kong property.
This Is What 1,230 Days (And Counting) Of Explicit Market Support By The Federal Reserve Looks Like | Zero Hedge