Turkish lira, stocks soar after AKP win

Supporters of the Justice and Development Party (AKP) wave a giant Turkish flag as they celebrate in Istanbul after the first results in the country's general election on November 1, 2015The Turkish lira and stocks soared on Monday after President Recep Tayyip Erdogan’s Justice and Development Party (AKP) was returned to power in a stunning weekend election victory, but analysts warn the rebound may be shortlived. The currency had tumbled more 25 percent this year on concerns about Turkey’s faltering economy and the political turmoil. The AKP won almost half the vote, giving it 316 seats in the 550-member parliament according to latest results, and is now set to rule Turkey until 2019.

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