Japanese stocks rebounded as the yen pulled back after inflation ticked higher, though many global investors remain on the sidelines ahead of key comments at a central-banking conclave in the U.S. The Nikkei NIK, +0.63% ended the morning trading session up 0.4% after falling in 12 of the past 15 sessions. Earlier, it was up as much as 0.5%. The U.S. dollar moved back above ¥109.60 from around ¥109 when Tokyo stocks stopped trading Thursday.

U.S. stocks closed slightly lower Thursday, after a session of switching between small gains and losses, during a seasonally low-volume period prone to swings, as investors focused on a symposium of central bankers in Jackson Hole, Wyo. The market had received a brief boost in afternoon trade after House Speaker Paul Ryan, R-Wis., expressed confidence in passing a tax-overhaul package this year and raising the debt ceiling.

European stock markets notched small gains Thursday, with investors taking a cautious approach as the Jackson Hole summit that's been hanging over markets this week was finally about to kick off. The Stoxx Europe 600 index SXXP, +0.16% closed up 0.2% at 374.51, partly recouping a 0.5% loss from Wednesday.