Financial stocks were leaning lower pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.

Apollo Global Management (APO) has explored acquisitions of Japanese life insurance businesses, including units of T&D and Orix, as it seeks to expand its presence in Japan's insurance market, the Financial Times reported, citing people familiar with the matter. Shares of Apollo Global Management were nearly 3% lower premarket.