Company Performance: TQM's financial health, revenue growth, profitability, and debt levels influence investor confidence and stock value.

Industry Trends: The overall performance and growth prospects of the insurance brokerage industry impact TQM's stock price.

Market Sentiment: General investor optimism or pessimism in the Thai stock market (SET) can affect trading volume and share price.

Economic Conditions: Thailand's GDP growth, interest rates, inflation, and unemployment rate influence investment decisions.

Regulatory Changes: New laws or regulations affecting the insurance industry or brokerage practices impact TQM's operations and stock.

Competitive Landscape: Actions of competitors like price wars, market share gains, or new service offerings can affect TQM's valuation.

Dividend Policy: TQM's dividend payout ratio and dividend yield affect its attractiveness to income-seeking investors.

Management Decisions: Strategic decisions regarding expansion, acquisitions, or restructuring influence market perception and stock price.

Global Events: Major global economic or political events can impact investor confidence in emerging markets like Thailand.