Socialist PM wins Sri Lankan presidency

Socialist Prime Minister Mahinda Rajapakse won Sri Lanka's tightly-fought battle for the presidency, results showed Friday as the stock market reacted with a record crash amid fresh violence.
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Socialist Prime Minister Mahinda Rajapakse won Sri Lanka's tightly-fought battle for the presidency, results showed Friday as the stock market reacted with a record crash amid fresh violence. Rajapakse, who celebrates his 60th birthday Friday, received 4.
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88 million votes, beating his nearest rival, market-friendly Ranil Wickremesinghe, on 4.
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69 million votes, the final result released by the elections' commissioner showed.
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Elections chief Dayananda Dissanayake said the result of Thursday's ballot would be conveyed to all 13 candidates at a formal meeting here at 0730 GMT.
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News that left-leaning prime minister had narrowly beaten his right-wing rival saw the benchmark All Share Price index plunge 176 points, or seven percent at opening, dealers said.

The index had jumped five percent to a record high of 2,324 Wednesday on the eve of the polls on the back of investor optimism that Wickremesinghe would win.

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"Everybody's dumping -- there are net sellers in the market today following ear

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