Hong-Kong as previously known is dead. China is taking control of every aspect of HK. HK have huge political risk, as seen in the pre-COVID era, with social and political unrest.
As we know, there are restrictions for foreigners direct invest/own Chinese securities and CNY (capital flows controls).
As China is absorbing HK, owning HK securities could in the future be like the onshore Chinese stock exchanges, with foreigner restrictions or limitations, even the rumors of that simply would crash the HK securitites prices and/or the HK stock exchanges. Just the social and political unrest pre-COVID has take a toll on the HK stock exchanges.
I would speculate, that China will “always” have a “free port” for foreigners to access mainland China, Hong Kong and Macao are examples of centuries-old jurisdictions with special rights due to that.
I stay away from non-democratic jurisdictions, like China (including Hong-Kong).
If I were T212, I rather add stock exchanges from 1st world/developed countries, like Canada or Australia or other European countries, than other unstable jurisdictions.