Thomas Chong

Thomas Chong joined Jefferies in July 2019, following over 10 years of equity research experience covering the internet sector at Credit Suisse, Citigroup and Bank of China International.

Thematic Research | Internet

What I am Known For

• Thomas Chong is the Regional Head of Internet & Media at Jefferies. He leads a team covering more than 80 companies.
• Regional focus on China, Southeast Asia and other developing countries’ digital economies.
• Strong connections with corporates and industry experts.
• Thomas has >10 years of equity research experience covering the internet sector at Credit Suisse, Citigroup and Bank of China International.
• Thomas was ranked No.1 internet analyst in Institutional Investor (II) China Survey 2021, II Asia in 2020, 2019.

How I am Different

• We view recent sector rally as different from the same period last year considering the focus is on AI rather than recovery in macro-environment.
• We believe AI is still in early phase of development after DeepSeek moment in 2025.
• In 2026, AI empowerment across different sub-sectors remains a key focus.
• Catalysts are not lacking across sub-sectors in 2026.
• Alibaba/Tencent are our sector top picks in 2026.

Upcoming Corporate & Strategic Access

• Expert Events: Jef U China Expert Day: Internet (10 Nov 2025)
• Conferences: Jefferies Asia Internet Week
• Jefferies 7th Asia Forum