Oct 6 (Reuters) - Hong Kong stocks closed at their lowest level in 12 months on Wednesday, falling in line with other Asian markets spooked by inflation fears and largely unmoved by the financial hub’s leader Carrie Lam’s annual policy adress. ** The Hang Seng Index lost 0.57% to close at 23,966.49, while the China Enterprises Index slipped 0.9% to 8,438.84, a new five-year closing low. ** Mainland Chinese markets were closed for a public holiday, and MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8%. ** In her speech, Hong Kong chief executive officer Carrie Lam said the government would develop a new metropolitan area in northern Hong Kong and would strengthen national security education. ** Property stocks pared losses to trade slightly better than the broader market. The blue-chip property sub-index eased 0.39%, while the mainland index for the sector lost 0.58%. ** Energy firms gained as oil prices continued to test multi-year highs. PetroChina surged 4.28%, Sinopec Corp advanced 3.06% and CNOOC gained 2.34%. ** Alibaba gained 1.48%, following reports that Daily Journal Corp chaired by Charlie Munger, the longtime business partner of Warren Buffett, had increased its stake in the Chinese tech giant. ** The Hang Seng Tech Index slid 1.5%, while the financial sector gained 0.45%. Reporting by Alun John; editing by Rashmi Aich and Krishna Chandra Eluri Our Standards: The Thomson Reuters Trust Principles.