  Quantum kinetic equations of motion for the description of the exciton spin
dynamics in II-VI diluted magnetic semiconductor quantum wells with laser
driving are derived. The model includes the magnetic as well as the nonmagnetic
carrier-impurity interaction, the Coulomb interaction, Zeeman terms, and the
light-matter coupling, allowing for an explicit treatment of arbitrary
excitation pulses. Based on a dynamics-controlled truncation scheme,
contributions to the equations of motion up to second order in the generating
laser field are taken into account. The correlations between the carrier and
the impurity subsystems are treated within the framework of a correlation
expansion. For vanishing magnetic field, the Markov limit of the quantum
kinetic equations formulated in the exciton basis agrees with existing theories
based on Fermi's golden rule. For narrow quantum wells excited at the $1s$
exciton resonance, numerical quantum kinetic simulations reveal pronounced
deviations from the Markovian behavior. In particular, the spin decays
initially with approximately half the Markovian rate and a non-monotonic decay
in the form of an overshoot of up to $10\,\%$ of the initial spin polarization
is predicted.
