Jacquelin had five birdies and two bogeys to finish at 9-under 135.
'I am going to play exactly the same,' Jacquelin said. 'I think the course is a little more fair this week and if you miss the fairway you still have a shot to the green and that will make a big difference for the weekend.'
Ernie Els, the tournament's 2005 winner, was seven off the pace at 142 after shooting another 71. The South African, still looking for his first win of the year, had a pair of birdies on the first two holes before his putting went cold, dropping a shot on the back nine.
'I am playing OK, just not scoring. A little frustrating,' Els said.
Lee had three birdies and one bogey to sit at 6-under 138 at the Tomson Shanghai Pudong Golf Club.
'I got up and down four times, which kept me going,' said Lee, who was born deaf and communicates through his father by lip-reading. 'I'm swinging it good but I felt average today because of the weather change -- yesterday was cold, today was hot.'
Spaniard Miguel-Angel Jimenez, the 2004 Asian Open winner, had a 69. Joakim Backstrom of Sweden (69), Soren Kjeldsen of Denmark (72), Scott Hend of Australia (70), and Colin Montgomerie of Scotland (70) joined Jimenez at 5-under 139.
Montgomerie improved his score with an eagle 3 on the par-5 16th hole.
American John Daly missed the cut after shooting 76 to finish at 11-over. Defending champion Gonzalo Fernandez-Castano remained at 1-over after a 72.
The $2.3 million Open is co-sanctioned by the European and Asian Tours.