Could someone please tell me - when the tram reaches near the Fortress Hill MTR station which road is it running along.
Thank you

If you are going away from Causeway Bay (the busy shopping district), the road which the tram runs on is called King's Road. The other way round is called Causeway Road.

Do you know which tram route goes from Central to Times Square?

The Happy Valley route will take you nearest to Times Square (just), but all routes pass within easy walking distance.

The tram is the way to go! You will see so much of the street life of this city. Try to get upstairs for a great view. They are really crowded at rush hours and around lunchtime.

There is only one tram line in Central, all you need to do take the correct tram to get to Times Square. The name on the front of the tram should say "Happy Valley". You would then get off at Times Square. I don't recall exactly how many stops it is from the Hong Kong Shanghai Bank stop, I am guessing around 5-6. You will make a very sharp turn at one point after about 4 stops, Times Square is 1-2 stops beyond that. You can ask someone on the tram.

You would not want to take a train that says "Causeway Bay", "North Point" or "Shau Kei Wan", as these go along the waterfront.

To return, get on a tram that says "Kennedy Town", or "Western Market" and get off in Central where you wish.

just to set the record straight, there is only one major tram route in hong kong though with different terminus, and the route does NOT go by the waterfront.

The route with Happy Valley as the terminus has a stop nearest to the Times Square, but all others will pass through the same junction with just 2 minutes' walk.