Hoey had eight birdies at the Black Mountain Golf Club to lead three others by one shot at the European-Asian Tour event.
America's David Lipsky, Hung Chien-yao of Taiwan and Spain's Carlos Pigem were all tied for second.
"I know the course is score able because there's not a lot of rough, but the wind picks up and the last few holes were tricky today," Hoey said.
"We probably had 10 or 11 holes with not much wind, which was the advantage of teeing off early. But the last few holes were tricky," he added.