Palacios scored from distance for the side from the United Arab Emirates with 10 minutes remaining in Monday night's match to cancel out Akram Afif's opener, the Qatar international having put his side in front in first half injury time.
Saudi Arabia's Al-Nassr, who were missing Cristiano Ronaldo due to illness, were held to a 1-1 draw in Baghdad by Al-Shorta in one of three other games played in the opening round of the new league phase.
The Riyadh-based club took the lead in the 14th minute when Sultan Al-Ghannam thumped his shot in off the inside of Ahmed Basil's right post.
But 10 minutes later the Iraqi side levelled, Mohammed Dawood making the most of a defensive mix-up to bend his shot into the top corner.
In Jeddah, former Barcelona midfielder Franck Kessie scored with a second-minute strike to give Saudi Arabia's Al-Ahli a 1-0 win over Iranian side Persepolis.
Riyad Mahrez failed to double Al-Ahli's advantage when he saw his 59th minute penalty saved by Alexis Guendouz after recent signing Ivan Toney had been cut down inside the area.
Esteghlal, also from Iran, secured a 3-0 win over Al-Gharafah from Qatar with defender Abdalla Yousif scoring in his own net in the fourth minute to give the hosts the lead.
Ramin Rezaeian added the second in the 79th minute when he charged into the penalty area to slip a low shot past Khalifa Ababacar and Arash Rezavand completed the win with two minutes left.
Asia's continental championship has undergone a significant overhaul for the new season with the opening phase reduced from 40 to 24 teams and teams facing off in the Swiss League format.
The top eight finishers in the 12-team leagues in east and west Asia will progress to March's knockout rounds, with the quarter-finals, semi-finals and final all to be played in Saudi Arabia in April and May.
