New Zealand technology shares have taken another pummelling as investors around the globe continue to re-evaluate growth-oriented stocks in a sell-off a local market player.

New Zealand shares followed Wall Street lower as investors question whether tech and high-growth companies can deliver the earnings growth implied by their valuations. Pacific Edge led the NZX 50 Index lower, while Xero and Diligent Board Member Services

The United States tech sector has taken a hammering and investor sentiment has turned against so-called "growth" stocks, writes Liam Dann.

Pacific Edge shares slumped to a five-month low and Xero plunged again as as the local stock market joined a global sell-off amid concerns high-growth companies may struggle to convert sales into profits.

Xero chief executive Rod Drury is "extremely confident" the market will return to technology stocks after the company's shares slumped to a four-month low.

The Commerce Commission has offered immunity from prosecution to a financial markets participant as part of an investigation.

Orion Health is bidding for a massive Saudi Arabian technology contract that could turn the Middle East into one of the New Zealand software developer's biggest markets.

Kiwifruit marketer Zespri is poised for a major push into the Middle East, including a relaunch in Saudi Arabia after a five-year absence.

Given economist Noriel Roubini's track record it would be foolhardy to write him off as just another overly pessimistic grump, writes Liam Dann.

United States stocks had a mixed week with the broader market rising on better economic data

The volume of trading on New Zealand's share market continued to gain in March, though the value of activity fell for a fourth month.

Around a dozen companies have indicated interest in setting up crowd-funding as new rules come into force making it easier for businesses to raise capital.