Tokyo stocks likely to remain volatile in coming days

Tokyo stocks are expected to remain turbulent over the coming days, with the benchmark Nikkei 225 average forecast to move between 34,000 and 38,000.

In the latter half of this week, stocks suffered sell-offs on the dollar's steep drop against the yen following policy meetings of the U.S. Federal Reserve and the Bank of Japan and on dismal U.S. economic data. On Friday, the Nikkei average plummeted 5.81% with the second largest point loss of 2,216.63 to end at 35,909.70.

Next week, U.S. economic indicators, such as the Institute for Supply Management nonmanufacturing purchasing managers' index for July, the minutes of the BOJ's Policy Board meeting in June and major opinions at the latest such meeting, in which the Japanese central bank raised its policy interest rate to around 0.25%, are scheduled to be released.