Japan TOPIX down 5 pct, Nikkei extends falls

TOKYO Jan 22 (Reuters) - Japan's broad TOPIX index fell more than 5 percent on Tuesday as Asian markets extended falls and investor dumping of shares picked up pace, with banking giant Mizuho Financial Group (8411.T) down more than 6 percent.

As of 0506 GMT the TOPIX .TOPX was down 5.2 percent at 1,226.83, a loss of 66.91 points.

The benchmark Nikkei .N225 was down 5.6 percent at 12,583.87, a new 28-month low and a loss of more than 700 points.