My review was written in November 1988 after watching the movie on Celebrity video cassette.
The Aussie-made action pic "Day of the Panther" is standard issue martial arts material, well-executed but strictly ho-hum.
Edward John Stazak is physically right as Jason Blade, trained by Chinese cult the Panthers, who heads from Hong Kong to Perth on a secret mission against local druglord Zukor (Michael Carman). His teammate Linda (Linda Megier) is killed and Blade teams up with her cousin Gemma (Paris Jefferson).
The local cops tolerate Blade's activities, later encouraging him when they finally see through his cover story as a mercenary killer and identify his mission. In typical genre format, pic builds to a bloody annual gladiatorial tournament held by Zukor, but oddly omits same, instead staging a climax of Blade one-on-one against Zukor's chief henchman Baxter (Jim Richards).
Fight scenes, staged by thesps Stazak and Richards, are effective and Jefferson makes a beautiful redheaded leading lady. Otherwise pic is perfunctory and ends abruptly with announcement of is sequel "Strike of the Panther", which was filmed back-to-back with this installment.