SHANGHAI, April 3 (Reuters) - China stocks fell on Wednesday, tracking global peers lower as U.S. bond yields held four-month highs, although data showed China's services activity accelerated.

** A powerful earthquake in Asia also raised concerns about possible disruptions to the vital chip-making industry, denting sentiment in regional stock markets.

** Markets are also pondering the risk of slower rate cuts ahead of U.S. data and an appearance by the world's most powerful central banker later in the day. Oil extended its ascent, while gold prices hit another record high.

** China's services activity growth accelerated in March as business rose at the quickest pace in three months, a private-sector survey showed on Wednesday, following the better-than-expected manufacturing surveys, adding to signs that parts of China's economy are gaining momentum in the first quarter.

** At the midday break, the Shanghai Composite index .SSEC was down 0.24% at 3,067.46 points.

** China's blue-chip CSI300 index .CSI300 was down 0.28%, with its financial sector sub-index .CSI300FS lower by 0.6%, the consumer staples sector .CSI000912 up 0.15%, the real estate index .CSI000952 down 1.03% and the healthcare sub-index .CSI300HC down 0.08%.

** Chinese H-shares listed in Hong Kong .HSCE fell 0.78% to 5,913.99, while the Hang Seng Index .HSI was down 0.74% at 16,806.29.

** The smaller Shenzhen index .SZSC was down 0.5%, the start-up board ChiNext Composite index .CNT was weaker by 0.43% and Shanghai's tech-focused STAR50 index .STAR50 was down 0.73%​.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.64% while Japan's Nikkei index .N225 was down 0.69%.

** The yuan CNY=CFXS was quoted at 7.2345 per U.S. dollar, 0.03% weaker than the previous close of 7.232.

** The largest percentage gainers in the main Shanghai Composite index were Zbit Semiconductor Inc 688416.SS, up 10.85%, followed by QuMei Home Furnishings Group Co Ltd 603818.SS, gaining 10.13%, and Anhui Xinke New Materials Co Ltd 600255.SS, up by 10.1%.

** The top gainers among H-shares were China Mengniu Dairy Co Ltd 2319.HK, up 1.62%, followed by Semiconductor Manufacturing International Corp 0981.HK, gaining 1.57% and Trip.com Group Ltd 9961.HK, up by 1.17%.

(Reporting by Shanghai Newsroom; Editing by Mrigank Dhaniwala)

((Jason.Xue@thomsonreuters.com;))