HK shares open down 1.7 pct after Monday's sharp rally

HONG KONG, Sept 9 (Reuters) - Hong Kong shares will open down 1.7 percent on Tuesday as the market consolidates after its biggest gains in nearly six months and as energy counters slide as a result of lower oil prices.

The benchmark Hang Seng Index .HSI was set to open down 354.80 points at 20,439.47 after gaining 4.3 percent on Monday as the Federal takeover of U.S. mortgage giants Fannie Mae (FNM.N) and Freddie Mac (FRE.N) eased credit market worries.

The China Enterprises Index .HSCE of top locally listed mainland Chinese firms was set to open 2.4 percent lower.

(Reporting by Parvathy Ullatil; Editing by Ken Wills)