Turkey faces election runoff, Erdogan seen with momentum

Turkish President Recep Tayyip Erdogan greets supporters at the AK Party headquarters in Ankara, Turkey May 15, 2023. REUTERS/Umit Bektas

ANKARA (Reuters) -President Tayyip Erdogan led comfortably on Monday after the first round of Turkey's presidential election, with his rival facing an uphill struggle to prevent the president extending his rule into a third decade in a runoff vote on May 28.

Turkish assets weakened on the news, which showed Erdogan only just below the 50% threshold needed to avoid sending the NATO-member country to a second round of a presidential election viewed as passing judgment on his autocratic rule.