Businessmen talk on a balcony of a bank building, in downtown Istanbul on October 30, 2015, ahead of Nov. 1 general elections. AFP PHOTO / DIMITAR DILKOFF
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Turkey's snap election Sunday will likely be a pivotal one for financial markets, setting the stage for further uncertainty – and selling – or ushering in a new government that could help quell recent volatility.Most opinion polls in recent weeks have suggested the AKP will struggle to achieve this but may take more of the vote than in the June 7 election, when it won 40.9 percent and was left unable to govern alone for the first time since 2002 .However, one survey released on Thursday suggested there had been a late surge in support for the AKP and that it could take as much as 47.2 percent, comfortably enough to secure more than half of the 550-seat parliament.In dollar terms, the blue chip BIST 30 index is down 28 percent, the third-worst performance among 30 emerging market stock indices.This too, would be taken as a positive, at least in the short term, by financial markets.
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