Company Performance: Earnings, revenue, and profit margins directly impact investor confidence and thus, stock price.

Industry Trends: Positive or negative trends in the telecommunications sector influence sentiment towards Axiata.

Market Sentiment: Overall market optimism or pessimism, like during economic booms or recessions, affects all stocks.

Regulatory Changes: Government policies and regulations related to telecoms impact Axiata's operations and profitability.

Competition: The competitive landscape of the telecom industry and Axiata's market share influence investor perception.

Interest Rates: Higher interest rates can make borrowing more expensive, potentially affecting Axiata's investment plans.

Exchange Rates: Fluctuations in currency exchange rates, especially since Axiata operates internationally, can impact earnings.

Dividend Policy: Axiata's dividend payouts and dividend yield affect investor appeal and thus, the stock price.

Economic Growth: The economic health of the countries where Axiata operates affects demand for its services.