SYNAGISTICS (02562) surged more than 16% in a rebound, though it remains down nearly 80% year-to-date. At the time of writing, the stock rose 9.27% to HKD 5.66, with a turnover of HKD 333 million.

The rebound follows reports that Singapore's National Artificial Intelligence Strategy (AISG) is undergoing a major strategic shift. In its latest Southeast Asian language model project, AISG has abandoned Meta's model in favor of Alibaba's open-source Qwen architecture. This move highlights a key expansion of China's open-source AI influence globally.

Public records show that SYNAGISTICS is a Singapore-based company and operates as an e-commerce solutions platform under Alibaba in Southeast Asia.

Notably, the latest Hong Kong Stock Exchange filings reveal that on November 5, a major shareholder of SYNAGISTICS deposited shares worth HKD 1.291 billion (32.27% stake) with Morgan Stanley Hong Kong Securities. On November 21, another shareholder deposited shares valued at HKD 428 million (15.16% stake) with Citibank.