Can the 1GB ATI Mobility Radeon TM HD 5650 switchable graphics HDMI VGA For Dual Core Processors play aion

Yes, it can! And because the ATI 5650 is basically a down-clocked HD 5730, it has AMD Accelerated Parallel Processing along with 400 streaming units, it should be able to run it in high quality without any issues. Just make sure that you have the 12.10 Catalyst Control Center from AMD installed. The 12.10 CCC is especially optimized for AMD HD 6500M/5600/5700 Series.