HK shares open down 1.3 pct; financials weigh

HONG KONG, Aug 5 (Reuters) - Hong Kong shares will open 1.3 percent lower on Tuesday, with commodity stocks taking a beating on retreating oil prices and financial stocks slipping on HSBC's less-than-stellar first half earnings.

HSBC (HSBA.L) (0005.HK) will open 1.5 percent lower after reporting a 28-percent drop in first-half profit as it took a $14 billion hit from bad debts on U.S. home loans and asset write-downs.

Offshore oil producer CNOOC (0883.HK) is set open down 4.5 percent after crude briefly cracked the $120 per barrel support level overnight, partly on concerns a global slowdown would blunt demand.

The Hang Seng Index .HSI will open down 289.86 points at 22,225.06.

The China Enterprises Index .HSCE of top locally listed Chinese firms will open 1.3 percent lower.

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)