Market Sentiment: Overall investor confidence and optimism, or pessimism, significantly impacts stock prices. Company Performance: Positive earnings reports, revenue growth, and strong financial health typically drive prices up. Industry Trends: The performance of the overall telecommunications sector can influence investor perception of Axiata. Economic Conditions: Factors like GDP growth, inflation, and interest rates affect corporate profitability and investment decisions. Regulatory Environment: Changes in government policies or regulations impacting the telecommunications industry can impact Axiata's value. Competitor Actions: The activities of rival companies, such as pricing strategies or market share gains, can affect Axiata's performance. Global Events: Major international events, like economic crises or geopolitical tensions, can trigger broad market volatility. Foreign Exchange Rates: Fluctuations in currency exchange rates, especially the Ringgit against other currencies, impact Axiata's earnings.