To be precise, it is actually the Lantern Festival which is celebrated on the 15th day of the first month in Lunar Calendar. It is on 19th February in 2019.
During the Lantern Festival, traditionally people would make different lanterns and others would go and solve riddles on the lanterns. Do not confuse with Mid-Autumn Festival which children would bring out lanterns to play around on the 15th of the eighth month in Lunar Calendar.
In the early days, young people would go out on the streets in hopes of finding love and considered as a romantic festival.
There is a lantern display near Star Ferry in Tsim Sha Tsui, with the theme of peacock because in Chinese tradition, peacock is the embodiment of auspicious bird. When peacock spreads its bright plumage it would bring good fortune to people.
Also there is a rare palace and Merry-go-around lantern handmade by a local master which is worth to see.
Lantern Display starts from today until 24th February, 2019.