Investors feeling the jitters ahead of Turkish election

Turkey President Recep Tayyip Erdogan seeks new term with greater powers

There are no exit polls. The victor will assume vast new presidential powers.

Turkish President Recep Tayyip Erdogan was on Sunday leading a tightly-contested presidential election in early counting as he seeks a new mandate in the face of a revitalised opposition and weakening economy. He attacked his opposition for lacking vision, and boasted of his achievements in office - such as new infrastructure and improved healthcare.

Voting has started. After 15 years in power that have already seen Turkey transformed, President Recep Tayyip Erdogan wants to win a new mandate and rank as the key figure of his country's modern history alongside its founder Mustafa Kemal Ataturk. He painted a bleak picture of Turkey under Erdogan, saying its currency would remain weak, and its refugee problems unresolved.

"Let this immorality be an example to the world", said Mr Ince, who said he had held 107 rallies around Turkey in the 51 days since his candidacy was announced.

Al Jazeera's Sinem Koseoglu takes a look at the frontrunners.

Polls heading into the vote suggested the ruling Islamist-rooted AK Party could lose parliamentary majority, which could hamper Erdogan's ability to power Turkey's new executive presidency.

Voters will put two separate ballot papers in the same envelope - one for the presidential and one for the parliamentary elections.

The pro-Kurdish HDP was left out of the anti-Erdogan alliance and needs to pass a 10 percent threshold to win seats in parliament.

With 80 percent of votes counted in the presidential race, Erdogan had 54 percent, ahead of Ince on 30 percent, broadcasters said. The CHP had 19 percent and the pro-Kurdish Peoples' Democratic Party (HDP) 9 percent.

The HDP's presidential candidate, Selahattin Demirtas, has waged his campaign from a prison near the Greek border as he awaits trial on terrorism-related charges, which he denies.

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Mr. Erdogan said there had been no serious voting violations.

Under constitutional amendments approved after a controversial 2017 referendum, Turkey is making a transition from a parliamentary system to a presidential one - giving the next president expanded powers, abolishing the prime minister's post, and eliminating numerous checks and balances created to help parliament protect against the misuse of presidential powers.The changes will take effect after the elections.

"Necessary administrative and legal steps have been taken regarding claims on security issues at some polling stations in Suruc", election body chief Sadi Guven said.

Opponent, Muharrem Ince, however, gave a feisty performance at a rally among thousands of supporters of his Republican People's Party, putting President Erdogan's leadership at risk.

Today's polls could either consolidate Erdogan's hold on power or curtail his vast political ambitions.

Turkey will also be electing 600 lawmakers to parliament on Sunday - 50 more than in the previous assembly. Without them, many said, the country could not function.

At least 56,322,632 registered voters were eligible to decide on presidential and parliamentary candidates at 180,065 ballot boxes across the country.

"Turkey is staging a democratic revolution", he told reporters after casting his own vote in Istanbul on Sunday.

The vote is taking place under a state of emergency declared after the failed coup attempt, which allows the government to curtail civil rights.

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