Cool hat band! I’ve been reading conflicting information about dating Hong Kong items. One article was saying late 30’s through early 50’s. Then another article made the point that when the ban against China was lifted manufacturers started moving their manufacturing overseas to save money. Think this was about 1978. Hope a history buff will chip in. Regardless, you have a great hatband. Most of the things that I remember seeing marked Hong Kong were earlier – 1940-50’s.
The conclusion that I arrived at is that the stainless parts were imported, and perhaps the turquoise was applied here in the states. Because in your hat band and the watch I saw, the turquoise looks unmistakeably American.