Magnetic circular dichroism is used to investigate the evolution of ferroma
gnetism in the p-type magnetic semiconductor (Ga1-xMnx)As. Local Mn moments
and holes produce two spectroscopically distinct contributions, whose prop
erties reveal an antiferromagnetic Mn-hole alignment in the ferromagnetic s
tate. These components are present in both metallic and insulating samples
with different temperature and field dependences, suggesting that the holes
play a mon active role in mediating the ferromagnetic exchange than in tra
ditional RKKY systems.