Abstract: An aqueous coating composition comprising 15 to 40% (as a solid) by weight of an aqueous copolymer latex. The aqueous copolymer latex is prepared by the emulsion polymerization of monomer components which comprises: (A) 10 to 70 parts by weight of a (meth)acrylate monomer comprising (A-1) 20 to 80% by weight of a branched C.sub.3-5 -alkyl (meth)acrylate and (A-2) 80 to 20% by weight of a linear C.sub.2-4 -alkyl (meth)acrylate; (B) 5 to 30 parts by weight of an ethylenically unsaturated carboxylic acid; and (C) 0 to 85 parts by weight of a monomer copolymerizable with said components (A) and (B). The composition exhibits strong resistance to neutralization, excellent durability, a superior leveling characteristic, superb adhesiveness, high resistance to water-permeation, and good water repellency. It is suitable for coating plastics, ceramics, woods, and formed concrete.