Both shot 7-under 65s and hold the lead by one over the ageless Sam Torrance and local boy Bradley Dredge.
A group of five players sit two back at 5-under, including 1999 British Open champ, Paul Lawrie.
Being played on the 7,355 yard, par-72 Wentwood Hills course, Green and Kingston each enjoyed bogey-free rounds and carded seven birdies apeice.
Kingston, the 26-year-old from South Africa, took the early clubhouse lead with birdies on Nos. 2, 4, 5, and 7. Two more to open his back nine and a final birdie on the 16th got him to 7-under.
Green, a left-hander from Australia, had to cope with the afternoon drizzle, but managed to match Kingston's efforts. He even had a four-footer for birdie on the 18th that would of given him the outright lead. but the putt lipped out.
That was a shame. I didnt read it correctly, but its only Thursday and Im in a good position,' said Green.
Both Green and Kingston have a pair of top-10s this year.
It was Torrance, however, the 49-year-old Scot and current European Ryder Cup captain, who was the story of the day.
I teed off at 1:30 PM in the pro-am and I guess I had that time in mind today, when in fact it was 1:10 PM. I was just sauntering over to the putting green to hit a few putts and Jennie(tournament secretary) came racing across the putting green screaming: Youve got 40 seconds to get to the tee!
So I hurdled the fence surrounding the putting green and just kept going. I got there with about 10 or 20 seconds to spare ' then played beautifully. My heart was thumping from the shock and I thought twice about jumping the fence. I thought I would either make the tee or break my leg!
From there on, Torrance had little worries. He recorded no bogeys and six birdies, one of which was a perfectly hit 4-iron to a couple of inches at the ninth for a tap in.
Dredge, who grew up not far from the course, played alongside Darren Clarke and used the hometown crowd to his advantage.
'I think it brings its own pressure, but a nice pressure, he said. Its good to have such great support and to have people there that you recognize, the odd familiar face in the gallery. That relaxes me a bit.
Dredge also had seven birdies on his scorecard, but a bogey on the 15th left him a stroke off the pace.
Clarke, ranked 14th in the world, played steadily with two birdies on the front side and two on the back for a 68. He's tied for 10th.
Local fan-favorite Ian Woosnam posted a 2-under-par 70.
Full-field scores from The Celtic Manor Resort Wales Open