Economic Factors: Economic growth (or contraction) in Malaysia affects overall investor sentiment and corporate earnings, impacting stock prices.

Company Performance: Strong financial results, positive earnings reports, and successful strategic initiatives typically drive the stock price higher.

Industry Trends: The outlook for the telecommunications sector in Malaysia influences investor perception of Axiata, the company behind the stock.

Regulatory Changes: Government policies and regulations related to the telecom industry can significantly impact profitability and investor confidence.

Investor Sentiment: Overall market mood and investor confidence can drive buying and selling pressure, regardless of fundamentals.

Interest Rates: Changes in interest rates can affect borrowing costs for the company and influence investment decisions.

Currency Fluctuations: The value of the Malaysian Ringgit against other currencies impacts the company's earnings, especially from overseas operations.