The stock of Alibaba is trading higher due to several factors. Firstly, buy-back proposals by Chinese companies have boosted investor confidence. Secondly, industrial profits have risen for a second straight month. Thirdly, Alibaba's Taobao and Tmall Group's presales for its Singles' Day promotion have also contributed to the rise. Lastly, government actions in China and Hong Kong, such as the issuance of a special government bond and proposals to cut stamp duty on stock transactions and ease restrictions on home purchases, have also boosted investor optimism.