Shanghai shares hit highest since Aug 2011; Hong Kong consolidates
* HSI -0.1 pct, HSCE -0.5 pct, CSI300 +0.7 pct, SSEC +0.7 pct
* Sentiment lifted by view China could cut rates again
* Hong Kong indexes down on consolidation, caution
By Chen Yixin and Pete Sweeney
SHANGHAI, Nov 25 (Reuters) - Shanghai's stock index reached a multi-year high on Tuesday as investors remained optimistic that China shares will get more policy support following the central bank's surprise cut in lending rates.
However, Hong Kong shares were down at midday. Analysts said investors there were more cautious and consolidated positions after Monday's gains.
Beijing is considering further cuts to interest rates and other policy adjustments, insiders told Reuters, on concerns about deflationary risks and high debt loads.
Further easing would likely ease liquidity conditions, which would be highly positive for stocks in China.
"Now investors are bullish and the market is definitely a bull market," said Zhang Yanbing, analyst at Zheshang Securities in Shanghai. Continuación...