You shouldn't have any problems as a single traveler to Hong Kong. Almost every time I've come here, I've traveled alone. The biggest problem is one of expense, since many hotels charge the same for both double and single occupancy. The other problem is Chinese food -- it's best when enjoyed with a group. Try fixed-price meals or all-you-can-eat buffets when dining alone, or join one of the organized tours where meals are often included.
Female travelers may also want to check out the website Journeywoman (www.journeywoman.com), a "real life" women's travel information network where you can sign up for a free e-mail newsletter and get advice on everything from etiquette and dress to safety. They have a special section called "GirlTalk Hong Kong," which carries tips on accommodations, restaurants, shopping, things to do, what to wear, and details of venues where solo female travelers will feel at home, submitted by women who have traveled to Hong Kong.