I'm not sure if the movie is related to streets of rage but characters were very similar.
there were three main characters, a guy with martial arts skills (I think his name was alex!), a black guy, and a girl dressed in red (again similar to the game).
the girl was daughter of an important character, and was kidnapped. so they ask the alex character to rescue her. he was a cop I think, and the whole movie was fighting scenes of alex and people who kidnapped the girl.
alex rescues the girl, and black guy dies in helicopter crash (stereotype :D).
since the characters were similar to the game, I searched for movies related to streets of rage (there is a movie with exact same name, but it is not the one i'm looking for ) and I couldn't find this one.