There are two Hong Kongs. I may sound like a broken record, but the contrast is amazing. Walking downtown among the shiny new skyscrapers and big money, Hong Kong is that international commerce city everyone pictures it to be.
With a mix of neighborhood life, interesting shopping, some history, and even a few museums, Shanghai Street turned out to be a great place to get a feel for the colorful Hong Kong.
It's probably possible to spend a whole day strolling from one end to the other, checking out the shops and the few heritage buildings, and visiting the museums. But you will want to stay in the area until evening, when the night markets are set up. I didn't get to any of the museums nor do any shopping, but I made sure to visit the Ladies Market (relatively) nearby in the afternoon, returning back to the Temple Street Market after the sun went down.
The southern end of the street is at Kowloon Park (closest MTR: Jordan Station), not far from the ferry terminal, reaching up 2.3 kilometers to Lai Chi Kok Road near Prince Edward MTR Station.