Gam Chi-Gei

A serial killer is loose in Hong Kong, murdering hostesses from high class night clubs. As punishment for their flaky style and lack of discipline, two young policewomen are assigned to work undercover as hostesses to catch the sadist. While solving that crime, they discover who's behind some of the city's drug trade. In trying to halt this enterprise, which they undertake without orders, they must face the crime lord's Japanese hit woman.

A red headed villain (with a blue headed son), a witch and the warriors and monk that fight the two badguys.

Another Chinese Ghost Story copy, also known as Affrighted Romance.

Lam Wai plays the murderous vigilante and Alex Man is the tough cop in this forgotten little masterpiece that has good kick ass action.