Looking for location of this c. 1930 image | Gwulo: Old Hong Kong

Looking for location of this c. 1930 image

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Looking for location of this c. 1930 image
I'm looking to place this image, c. 1930, (one half of a stereo pair). You can see by the enhanced cutout to the right of the old image that it is looking south towards the Peak, on which you can just make out some ghostly imagaes of houses. The Google Street View image on top is my best guess. On the South East corner is the old Wing Woo Grocery, which is now being restored. If this is wrong, I hope to find the correct location. Please let me know. I am in the midst of a huge project; restoring every stereo image of old Hong Kong that I can lay my hands on. And I hope to give an accurate location for all the images and, if possible, to photograph (also in stereo) the modern scene from the same perspective. Thanks for your help... Chris
Date picture taken (may be approximate): 
Friday, February 7, 1930

Comments

I think, this is Staunton Street because there is the flag of the Republic of China (1912-1928) visible down the street. If you zoom in you can see the five stripes of the flag representing five chinese ethnic groups. Wiki gives:

"From the establishment of the Xing Zhong Hui (Revive China Society) in 1894 to the founding of the Chinese Republic in 1912, Dr Sun kept using Hong Kong as a base of his revolutionary campaign. His activities mainly focused in the Central and Western District, including the College of Medicine for Chinese at 81 Hollywood Road where Dr Sun received his tertiary education, and Qian Heng Hang at 13 Staunton Street where he set up the headquarters of the Xing Zhong Hui."

I think the flag in the picture marks the headquarter at 13 Staunton Street.

Thanks so much.
This street looks very good, and I think the old Republic flag clinches it.
Those hills and houses to the East in the background must then be up by Bowen and Magazine Gap Roads.
But since this flag lasted until 1928, that would push back the date of this photo, and the others in the set, to no later than that.

More questions to come....