Blue-chip consumer goods trading company Li & Fung Ltd. (0494.HK) sees many acquisition opportunities in the U.S. and Europe, Managing Director William Fung said Wednesday.

Talking to reporters after the firm's annual general meeting, Fung said the company's acquisition targets include businesses in healthcare and cosmetics.

Company President Bruce Rockowitz said the downturn in the U.S. consumer market is nearing bottom, adding Li & Fung's orders from clients have been picking up since March.

-By Jackie Cheung, Dow Jones Newswires; 852-2802-7002; jackie.cheung@dowjones.com