Localized exciton dynamics and its influence on the ultrafast nonlinear exc
itonic response are investigated in ZnxCd1-xSe-ZnSe multiple quantum wells
by means of a two-color femtosecond absorption-saturation technique. A dela
yed rise of the induced transmission around the heavy- and light-hole excit
on lines is observed when localized excitons are photoexcited, yielding evi
dence for exciton detrapping on a few picosecond time scale. Pump photon en
ergy-dependent measurements show that the photoinjected cold excitons migra
te toward higher-energy states at a rate of about 11 meV/ps.