Wall was joined atop the leaderboard by Robert Coles and David Carter.
Rafael Gomez, Miles Tunnicliff, Simon Khan and Sam Little share fourth place at minus-4. Defending champion Sergio Garcia is one of 13 players tied for eighth at 3-under-par 68.
Wie managed just two birdies en route to a 7-over-par 78, which left her in a tie for 146th. She bogeyed the second and sixth, before draining a 20-footer for birdie on seven.
However, the young Hawaiian faltered to a double-bogey on eight and followed with bogeys on nine and 11 to slide to plus-5. Wie was unable to save par from a bunker at 13, the third time she could not get up and down for par from a bunker during the round.
Wie sank an 8-foot birdie putt on 15. She again couldn't save par from a bunker on 16 and also bogeyed the last to end at plus-7.
'My tee shots were a little erratic,' Wie said. 'And I'll work on a few more bunker shots. I didn't really have my rhythm today in my short game. Hopefully it will come back to me tomorrow.'
Wall parred the first six holes he played as he started on the 10th tee on the Alpine Course at Golf Club Crans-sur-Sierre. He sank back-to-back birdies from the 16th, but turned in minus-1 after a bogey on No. 18.
The Englishman atoned for that error with a birdie on the first. He drained a 30-footer for birdie on three and a 35-footer for birdie at six to get to 4 under.
Wall two-putted for birdie on the par-5 seventh and came right back with a birdie on eight. However, he tripped to a three-putt bogey on nine to slip back into a share of the lead.
'I felt good out there today. I drove the ball well, holed a couple of putts on the 12th and 13th and from there it was a good day's work,' Wall stated. 'I want to win this year. It makes things easier for next year and I also want to get in the top 15 to get in the majors.'
Coles also started on the back nine and ran off three straight birdies from the 13th. His birdie run ended with a bogey on 16.
The 34-year-old also bogeyed 17, but rebounded with birdies on one and two to move to minus-3. Coles drained a 4-foot birdie try on seven, then joined Wall in the lead with a birdie on eight.
'I have struggled. The first round scores have been appalling,' said Coles, who broke 70 in the opening round for just the second time in 25 starts this year. 'I have not got off to any sort of starts, and to get off to a decent start today and get into a tournament is great, so I am delighted.'
Carter dropped a shot on the second, but came right back to birdie three. He parred nine straight before flying up the leaderboard.
The Englishman birdied the 13th, then eagled No. 14. Carter kept rolling with birdies on 15 and 16 to gain a share of the lead, then parred out to remain there.
Garcia was joined at minus-3 by Francesco Molinari, Peter O'Malley, Oliver Wilson, Augustin Domingo, Bradley Dredge, Simon Dyson, Phillip Archer, David Bransdon, Andrew Butterfield, Simon Wakefield, Marco Ruiz, Marcel Siem and Andrew Marshall.