Mexico peso soars on US growth, tax plan bets

* Peso surges by most in nearly 6 months

* Surprisingly strong U.S. GDP boosts recovery hopes

* Bets lawmakers will pass key tax hikes add support (Adds closing stock prices, comment)

MEXICO CITY, Oct 29 (Reuters) - Mexico's peso surged by the most in almost 6 months after data showed the U.S. recession ended in the third quarter and speculation mounted Mexican senators will approve a proposed hike in value added taxes.

The peso MXN=MEX01 gained 1.82 percent on Thursday to 13.075 per U.S. dollar, its biggest one-day percentage gain since May 4.

Stocks also jumped, with the benchmark IPC index .MXX closing 2.01 percent higher at 29,247.83, in its biggest gain in a month and snapping a six-session losing streak.

Backed with government stimulus that helped lift consumer spending, U.S. gross domestic product grew an unexpectedly strong 3.5 percent in the third quarter, improving the outlook for Mexico since it ships most of its exports to the United States.

"This is confirmation that the stimulus has worked and that the American economy is exiting the recession," said Ramon Cordova, a currency trader at Base Internacional in Monterrey.

The data suggested the global rally in emerging market assets since March could continue and boost the Mexican currency and peso bonds, traders said.