Duo set the pace in Hong Kong

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Liang, bidding to become the first Asian player to win the event in a decade, carded a six-under-par 64 and would have taken the outright lead but for a bogey on the ninth, his final hole.

After seven birdies, Liang reached the green on the par-four ninth in two but then three-putted for a bogey.

"My performance was good but there are still three days left," said Liang. "My putting feels good and I have been very patient in taking every hole step by step."

Sterne, who carded eight birdies and two bogeys, has not won on the European Tour since the 2008 Joburg Open and is hoping to produce a consistent performance to give himself a chance on Sunday.

"I had a pretty good start and I just kept going," said Sterne. "From the Masters on I have really struggled, but I am still working on a few things.

"I am not all that comfortable, there are a couple of good things here and there but I have just been very erratic to be honest."

Chinese Taipei's Lin Wen-tang and Frankie Minoza of the Philippines finished tied for third at five under.

England's Oliver Wilson, who lost out in a play-off to Sergio Garcia at the HSBC Champions recently, sank a birdie putt from eight feet on the 18th to ensure he is within touch of the leaders at four under.