HK shares at 2-wk closing low; China stocks edge down

* China banks, properties slip on concern over policy changes

* China Unicom jumps on iPhone deal speculation

* Chinese brokerages gain on IPO talk (Updates to close)

By Parvathy Ullatil and Claire Zhang

HONG KONG, July 8 (Reuters) - Chinese bank stocks slipped in both the Hong Kong and the Shanghai markets on Wednesday as investors worried that China may reverse its easy monetary policies following a strong surge in new lending in the first half.

Senior regulators in China on Tuesday warned that the country's massive infrastructure lending was posing increasing risks for the banking system. [ID:nPEK15595]

Bill and bond yields had been rising recently on signs that the central bank was starting to tighten its liquidity policy, with worries over a possible policy shift also weighing on the stock market, analysts in Shanghai said.

Industrial and Commercial Bank of China (601398.SS), Construction Bank (601939.SS) and Bank of Communications (601328.SS) all sagged by about 3 percent.

China Merchants Bank (3968.HK)(600036.SS) dropped 3.7 percent in Hong Kong and 1.9 percent in Shanghai. China's sixth-largest lender was planning a rights share offer to raise about $3 billion before year-end, as it seeks to boost its capital after overpaying for a recent acquisition, investment banking sources told Reuters on Wednesday.

CHINA PROPERTY PLAYS PULLBACK IN HONG KONG

The benchmark Hang Seng Index .HSI finished down 0.8 percent or 141.2 points at a two-week closing low of 17,721.07, falling for a third straight day as talk circulated about the need for a second round of stimulus spending in the United States, stoking fears the economy was not yet on the road to recovery.

Turnover rose to HK$57.1 billion from Tuesday's HK$50.7 billion.

Chinese property stocks fell on worries a clampdown on lending for second-home buyers in Hangzhou, aimed at cooling the property market, may spread to other major cities.

Banks in Hangzhou are required to strictly apply a 40 percent, up from 20 percent, down-payment rule for second home purchases after property prices in Hangzhou rose 20 percent over the past three months, Chinese newspapers reported.

China Overseas Land (0688.HK) fell 2.9 percent, while Guangzhou R&F Properties (2777.HK) gave up 5 percent. But analysts viewed the move as a temporary setback for the property sector.

"Words are still much louder than action as the government is still very anxious to safeguard the 8 percent GDP growth target," David Ng, Head of regional property research at RBS.